Wall Street climbs as investors bet on Clinton victory

November 8, 2016 21:43
1 minute read.

US stocks rose for a second straight session on Tuesday, helped by early voter turnout estimates favoring Democrat candidate Hillary Clinton in the US presidential election.

Wall Street sees the former secretary of state as lending greater clarity and stability to the markets, while Republican candidate Donald Trump's stance on foreign policy, trade and immigration is less certain.Data company VoteCastr, which is providing real-time election information through news outlets, including Slate, showed Clinton with an early lead among voters in Florida, a must-win state for Trump.

Several investors said VoteCastr's data had pushed stock prices higher, although they were cautious about its accuracy.

"We were dramatically oversold. People were nervous Trump would win," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. "There's likely to be additional volatility in both directions between now and the end of the day."

Shortly after 2:30 pm ET, the Dow Jones industrial average was up 73.24 points, or 0.4 percent, to 18,332.84, the S&P 500 had gained 6.46 points, or 0.3 percent, to 2,137.98 and the Nasdaq Composite had added 20.96 points, or 0.41 percent, to 5,187.13.

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