Wall Street Rallies On Election Day, Palantir Skyrockets, Bitcoin Tops $70,000: What's Driving Markets Tuesday?

Benzinga01:58

Wall Street rallied on Tuesday as improved investor sentiment aligned with millions of Americans casting their votes for the 47th president. Betting markets leaned slightly toward Donald Trump, with ...

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Small caps also joined the rally, with the Russell 2000 index gaining 1.1%.\nPalantir Technologies Inc. PLTR led the S&P 500, with shares soaring after the artificial intelligence company surpassed quarterly earnings estimates and provided strong guidance.\nIn macroeconomic news, U.S. services sector activity hit over two-year highs in October, outperforming expectations.\nTreasury yields increased by 5 basis points, while the dollar declined for a second consecutive session.\nGold edged up 0.3%, hovering near record highs, and oil prices gained 1.2% after a 3.2% surge on Monday.\nCrypto sentiment was strong as well, with Bitcoin BTC/USD jumping 4.5% to over $70,000 and Dogecoin DOGE/USD spiking 12%.\nRead also: If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan\nTuesday’s Performance In Major US Indices, ETFs\nMajor IndicesPrice1-day %chgNasdaq 10020,259.621.5%S&P 5005,779.381.2%Russell 20002,244.401.1%Dow Jones42,191.931.0%Updated at 12:30 p.m. ET\nAccording to Benzinga Pro data:\n\nThe SPDR S&P 500 ETF Trust SPY rose 1.1% to $575.87.\nThe SPDR Dow Jones Industrial Average DIA rose 0.9% to $421.79.\nThe tech-heavy Invesco QQQ Trust Series QQQ soared 1.4% to $492.61.\nThe iShares Russell 2000 ETF IWM rose 1.1% to $222.47.\nThe Consumer Discretionary Select Sector SPDR Fund XLY outperformed, rising 1.7%. The Materials Select Sector SPDR Fund XLU lagged, up 0.4%.\n\nMonday’s Stock Movers\nStocks reacting to earnings reports included: \n\nVertex Pharmaceuticals Inc. VRTX, up 4.8%\nPalantir Technologies Inc., up 22.8%\nNXP Semiconductors NV NXPI, down 6.8%\nDiamondback Energy Inc. FANG, down 1.6%\nAmerican International Group Inc. AIG, down 2.3%\nIllumina Inc. ILMN, down 0.5%\nApollo Global Management Inc. APO, up 6.2%\nEmerson Electric Company EMR, up 6.8%, \nMarathon Petroleum Corp. MPC, up 3.9%, \nCummins Inc. CMI, up 8.8%, \nTarga Resources TRGP, 4.7%,\nYUM! Brands, Inc. YUM, up 2.5%, \n\nRead Next:\n\nBond Market Fear Gauge Soars To 1-Year High Ahead Of US Election Results: ‘Bond Vigilantes Have Been Voting Early’\n\nPhoto via Shutterstock.  Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. 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