Bulls Score Election Rally on Wall Street

A series of solid corporate earnings results were bolstering investor enthusiasm. Following Monday's close, credit-card company MasterCard (MA Quote) took a net loss on charges related to its settlement of a legal scuffle with Discover Financial Services (DFS Quote). Excluding the charge, however, MasterCard's earnings trumped the Street's forecasts. MasterCard jumped 18% to $170.26.

Meanwhile, energy company Anadarko Petroleum (APC Quote) reported that third-quarter profit climbed year over year and beat analyst estimates. The stock rose 6.2% to $35.18.

Farm products maker Archer Daniels Midland (ADM Quote) reported profit that more than doubled year over year, sending shares up 15% to $24.24.

Pharmacy operator Walgreen (WAG Quote) announced Tuesday that its October same-store sales climbed 2% year over year. Shares added 4% to $25.6.

Media firm Viacom (VIA Quote) wasn't so fortunate, as its earnings dropped 37% year over year. The stock nevertheless rallied 4.5% to $22.65.

In the technology arena, cell-phone maker Nokia (NOK Quote) announced that it will cut an estimated 450 jobs as it restructures its operations. Shares climbed 5.8% to $16.74.

A series of reports on the state of the financial sector revealed a mixed bag. Ahead of the trading day, 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 Quote) GE Capital segment and CIT Group (CIT Quote) are among businesses that may become eligible.

GE rose 7.6% to $20.77, and CIT rocketed 36% to $6.15.

A Goldman Sachs (GS Quote) hedge fund lost $989 million since January, according to a report in the Financial Times. Goldman added 6.3% to $95.