Nov 06, 2024 (MENAFN via COMTEX) --
(MENAFN) US stocks closed higher on Tuesday as the US presidential election unfolded, with gains across all major indices. Investors seemed optimistic amid the ongoing election results, boosting the stock market's overall performance. The rally underscored a sense of cautious optimism as markets navigated election uncertainties, responding positively to key economic indicators and corporate earnings as well.
The Dow Jones Industrial Average gained 427.28 points, or 1.02 percent, finishing the day at 42,221.88. This strong performance reflected investor confidence as sectors across the board showed gains. Similarly, the S&P 500 climbed by 70.07 points, or 1.23 percent, ending the day at 5,782.76, driven by strength in tech and healthcare stocks, which performed well amid election-related volatility.
Meanwhile, the Nasdaq Composite Index also posted a solid increase, adding 259.19 points, or 1.43 percent, to close at 18,439.17. Technology stocks, in particular, continued to lead gains, bolstering the Nasdaq's rise as investors looked toward the potential for favorable conditions in the tech sector post-election. Additionally, the VIX volatility index, known as the "fear index," declined by 6.78 percent to 20.49, signaling a drop in investor anxiety as the election progressed.
In other markets, the US dollar index saw a slight decrease of 0.45 percent, reaching 103.42, while the EUR/USD exchange rate held steady. Precious metals also recorded gains, with gold rising 0.27 percent to USD2,743.99 per ounce and silver up 0.62 percent to USD32.65, suggesting investor interest in safe-haven assets. Oil prices showed modest growth, with Brent crude, the global oil benchmark, rising approximately 0.1 percent to reach USD75.35, reflecting stability in energy markets amid the election atmosphere.
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COMTEX_459534341/2604/2024-11-06T16:08:48
