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Kiplinger

Business

David Dittman

Stock Market Today: Stocks Rise Amid a Broad-Based Election Day Rally

Palantir Dan Burrows ISM James Demmert Tim Quinlan United States DJT Interactive Brokers the White House US Federal Reserve

Stocks enjoy an election day rally.

Stocks gapped up at Tuesday’s open and trended higher through the regular trading session amid a broad-based but tech-led rally as Americans headed to the polls to choose their next president.

Strong earnings and a healthy reading on U.S. business activity provided additional impetus for bulls a day before the Federal Open Market Committee (FOMC) gathers for its next policy meeting. On Tuesday the CME FedWatch Tool priced in a 97.4% probability the FOMC will announce a quarter-point rate cut when its meeting concludes on Thursday, down from a 98% probability on Monday.

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