Stocks rose on the eve of Election Day as Wall Street looked ahead to the benefits of a possibly split government in Washington, though trading is likely to stay bumpy in a week full of events that could shake the market.
The S&P 500 rose 1%, while the Dow Jones Industrial Average gained 1.3% and the Nasdaq composite added 0.9%.
Analysts say many investors seem to be making bets that Republicans will take control of at least one house of Congress. With a divided government, gridlock is more likely than big, sweeping policy changes that could upend tax and spending plans.
The S&P 500 rose 36.25 points, or 1%, to 3,806.80.
The Dow Jones Industrial Average rose 423.78 points, or 1.3%, to 32,827.
The Nasdaq rose 89.27 points, or 0.9%, to 10,564.52.
The Russell 2000 index of smaller companies rose 9.94 points, or 0.6%, to 1,809.81.
For the year:
The S&P 500 is down 959.38 points, or 20.1%.
The Dow is down 3,511.30 points, or 9.7%.
The Nasdaq is down 5,080.45 points, or 32.5%.
The Russell 2000 is down 435.50 points, or 19.4%.
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