Wall Street posted solid gains on Election Day, sending the S&P 500 up 1.8%.
More than anything, what investors hope for is a clear winner to emerge relatively soon from the election. Whether that’s President Donald Trump or former Vice President Joe Biden is secondary. But if Biden wins, as polls suggest, the thought is that could open the door to a big support package for the economy, particularly if the Democrats also take control of the Senate.
Treasury yields also climbed Tuesday, and a gauge of investor fear in the U.S. stock market receded amid the widespread rally.