This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks Open Election Day With Rally Move

Updated from 9:13 a.m. EST

Stocks in New York were climbing at the open Tuesday, as traders heard some encouraging quarterly earnings reports and the polls opened for the U.S. presidential election.

The Dow Jones Industrial Average was gaining 168 points to 9488, and the S&P 500 was up 18 points to 984. The Nasdaq was tacking on 27 points to 1753.

A series of solid corporate earnings results were bolstering investor enthusiasm. Following Monday's close, credit-card company MasterCard (MA - Get Report) took a net loss on charges related to its settlement of a legal scuffle with Discover Financial Services (DFS - Get Report). Excluding the charge, however, MasterCard's earnings trumped the Street's forecasts.

Energy company Anadarko Petroleum (APC - Get Report) reported that third-quarter profit climbed year over year and beat analyst estimates.

Farm products maker Archer Daniels Midland (ADM) reported profit that more than doubled year over year.

Pharmacy operator Walgreen (WAG) announced Tuesday that its October same-store sales climbed 2% year over year.

Media firm Viacom (VIA - Get Report) wasn't so fortunate, as its earnings dropped 37% year over year.

Ahead of the new day's trading, The Wall Street Journal reported that the Treasury Department is mulling taking equity positions in financial companies beyond banks and insurers. According to the report in the Journal, General Electric's (GE - Get Report) GE Capital segment and CIT Group (CIT - Get Report) are among businesses that may become eligible.

Elsewhere in the financials, Swiss bank UBS (UBS - Get Report) announced it swung to a profit for the third quarter. The profitable quarter follows four straight earnings periods marked by losses on writedowns tied to mortgage securities.

Credit markets were continuing to improve. Three-month dollar Libor declined 15 basis points to 2.71%, its lowest level since Lehman Brothers declared bankruptcy. Overnight Libor fell one basis point to 0.38%.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
APC $39.07 -4.20%
CIT $26.33 -7.00%
DFS $45.05 -2.60%
GE $27.94 -2.10%
MA $81.34 -1.70%


Chart of I:DJI
DOW 16,005.95 -21.10 -0.13%
S&P 500 1,837.86 -15.58 -0.84%
NASDAQ 4,225.5040 -58.2490 -1.36%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs