Stocks rally for a third day ahead of midterm election results, Dow closes 300 points higher; European markets close higher ahead of U.S. midterm elections; Pandora up 10%
Stocks rose Tuesday as investors awaited the results of the U.S. midterm elections, which could affect future levels of government spending and regulation.
The Dow Jones Industrial Average gained 333.83 points, or 1.02%, to 33,160.83. The S&P 500 was up 0.56% to 3,828.11. The Nasdaq Composite advanced 0.49% to 10,616.20. All three indexes rallied for a third straight day.
SolarEdge Technologies was the leading outperformer in the broader market index, up 19% after reporting record revenue in its most recent quarter. Elsewhere, shares of Kohl’s jumped 7% after the department store chain announced the departure of its CEO next month.
Meanwhile, shares of Lyft dropped nearly 23% on disappointing quarterly results. Take-Two Interactive and Tripadvisor slumped 13.7% and 17.3%, respectively, after reporting earnings.
The pan-European Stoxx 600 closed 0.75% higher provisionally, having recouped opening losses of almost 0.5%.
Pandora shares climbed more than 6% in early trade to lead the Stoxx 600 after the Danish jeweler beat third-quarter profit expectations.
Source: CNBC, Investing.com