Corporate Results Drive U.S. Stocks Higher on Election Day -- Market Talk

Dow Jones05:07

1607 ET - Investors shrug off uncertainties stemming from U.S. elections and flock to stocks, apparently driven by robust corporate results. Palantir Technologies gains 23% as the AI software provider beats expectations and raises guidance. Enginemaker Cummins rises 9% also on better-than-expected results. Consumer discretionary leads the S&P 500 sectors, followed by industrials. Meanwhile, the U.S. trade deficit widens in September and the services sector expands in October. The Fed is expected to keep cutting borrowing costs. The three major indexes all rise more than 1%, with Nasdaq closing at 18439, S&P 500 at 5783 and the DJIA at 42222. (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

November 05, 2024 16:07 ET (21:07 GMT)

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