Election Day brought another tick higher for stocks, as Wall Street braces for the results from the day’s midterm elections and a big update on inflation that’s due later in the week.
The S&P 500 rose 0.6% Tuesday, its third straight gain. Trading was tentative through the day, and Wall Street’s benchmark index flipped between an even bigger gain and a modest loss during the afternoon.
Analysts say investors appear to be making bets for Republicans to gain control of at least one house of Congress, which could mean relatively little change for economic policies.
The S&P 500 rose 21.31 points, or 0.6%, to 3,828.11.
The Dow Jones Industrial Average rose 333.83 points, or 1%, to 33,160.83.
The Nasdaq rose 51.68 points, or 0.5%, to 10,616.20.
The Russell 2000 index of smaller companies fell 0.88 points, or less than 0.1%, to 1,808.93.
For the week:
The S&P 500 is up 57.56 points, or 1.5%.
The Dow is up 757.61 points, or 2.3%.
The Nasdaq is up 140.95 points, or 1.3%.
The Russell 2000 is up 9.06 points, or 0.5%.
For the year:
The S&P 500 is down 938.07 points, or 19.7%.
The Dow is down 3,177.47 points, or 8.7%.
The Nasdaq is down 5,028.77 points, or 32.1%.
The Russell 2000 is down 436.38 points, or 19.4%.
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