NEW YORK: Wall Street's main indexes jumped on Tuesday as investors bet that one of the country's most divisive presidential races could end with a clear victory for Democratic nominee Joe Biden and a swift deal on more fiscal stimulus.
All 11 major S&P indexes were up in morning trading, led by financials, healthcare and industrial stocks as investors also reined in some of the bets on post-vote volatility that dominated in recent weeks.
Not all of the infrastructure and other stocks which analysts have identified as likely winners from a Democrat sweep were up, with marijuana and renewable energy companies down, some as much as 4%.
The S&P banking subindex surged 3.3% to its highest in more than a week, while industrial stocks such as Caterpillar Inc and Honeywell International Inc rose more than 2% each.
By 11:40 a.m. ET, the Dow Jones Industrial Average was up 680.43 points, or 2.53%, at 27,605.48, the S&P 500 was up 78.26 points, or 2.36%, at 3,388.50. The Nasdaq Composite was up 243.11 points, or 2.22%, at 11,200.72.-Reuters
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