NEW YORK ( TheStreet) -- The major U.S. equity averages soared Tuesday, going into rally mode as Americans headed to the voting booths across the country to decide between Barack Obama and Mitt Romney for president.
Investors also kept a close eye on the U.S. congressional races, as the results will go a long way toward determining how the federal government ultimately handles the looming fiscal cliff. With many expecting Congress to remain divided, economists at Bank of America are anticipating "a prolonged negotiation process" on the issue.
The Dow Jones Industrial Average soared 133 points, or 1.02%, to close at 13,246. The blue-chip index rose for a second straight session and is now up 8.42% so far in 2012.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV