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U.S. stocks end up day, but investors watch election results

Trader James Doherty, left, and specialist Dilip Patel

Trader James Doherty, left, and specialist Dilip Patel work on the floor of the New York Stock Exchange, Monday, Nov. 7, 2016. Credit: AP / Richard Drew

Technology and consumer-focused companies led U.S. stocks broadly higher Tuesday as the market recovered from an early stumble. However, investors had their eyes on the results of the U.S. presidential election.

ON WALL STREET: At the close of trading, the Dow Jones industrial average was up 72.8 points, about 0.4 percent, at 18,332.4. The Standard & Poor’s 500 index added 8 points, about 0.4 percent, to 2,139.5. The Nasdaq composite gained 27.3 points, about 0.5 percent, to 5,193.5.

OIL PRICES: As markets closed, benchmark U.S. crude was down 2 cents at $45.45 per barrel in electronic trading on the New York Mercantile Exchange. In London on the Intercontinental Exchange, Brent crude, used to price international oils, was down 30 cents at $45.85 a barrel.

BONDS AND MEXICAN PESO: The yield on the 10-year Treasury note rose to 1.86 percent. The Mexican peso, which has become an indirect proxy among investors for Trump’s chances to win the White House, spiked against the dollar.

ANALYST’S OPINION: “The market has been looking for the status quo result, and the polling in the last couple of days shows that result is a good likelihood,” said analyst Mike Baele, senior portfolio manager at the Private Client Reserve at U.S. Bank. “That’s the reason why the market is bouncing here.”


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