US stocks jump on Election Day as investors eye outcome
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U.S. stocks closed sharply higher in a broad rally on Tuesday after data signaled a solid economy, but investors braced for volatile trading this week as voting was underway in an extremely tight U.S. presidential election. The Institute for Supply Management said its non-manufacturing purchasing managers index, a gauge of the services sector, accelerated to 56.0 last month, its highest since August 2022, from 54.9 the prior month and above the 53.8 expected by economists polled by Reuters. The election outcome could take days to be finalized as the latest polls showed the race between Republican Donald Trump and Democrat Kamala Harris, which has impacted markets in recent months, was too close to call. The former president's odds improved on Tuesday in betting markets that many investors see as election indicators. "The market continues to try and price for what is the outcome of this election," said Rob Haworth, senior i...