NEW YORK—Election Day brought another rise for Wall Street, with stocks climbing Tuesday for a third straight day.
The S&P 500 rose 21.31, or 0.6 percent, to 3,828.11, though it flipped between an even bigger gain and a modest loss to get there. The Dow Jones Industrial Average climbed 333.83 points, or 1 percent, to 33,160.83, and the Nasdaq composite gained 51.68, or 0.5 percent, to 10,616.20.
With Americans heading to the polls across the country amid high inflation and worries about a possible recession, analysts say investors appear to be making bets for Republicans to gain control of at least one house of Congress.
If Republicans do end up winning control of at least the House of Representatives, the ensuing reaction in financial markets could be modest, according to economists at Goldman Sachs. Stocks have already rallied in anticipation of it, with two straight gains of at least 1 percent before Election Day. But a surprise win by Democrats could upset the market if it leads investors to expect higher corporate taxes and other policy changes….