(America decides) US stocks build on gains

Stocks jumped on Tuesday as investors hoped a clear winner would emerge from the U.S. presidential election and a delayed, or contested, result would be avoided.

The Dow Jones Industrial Average traded 331 points higher, or 1.2 percent. The S&P 500 gained by 1 percent and the Nasdaq Composite advanced by 0.8 percent, CNBC reports.

“Ultimately, the markets want clarity, and the main threat to risk assets this week is the emergence of a contested election, so if races are tight enough for campaigns to sue to halt or extend recounts, expect a reversal of this morning’s rally,” Tom Essaye, founder of The Sevens Report, wrote in a note.