What does the new administration mean for Wall Street? Jim Cramer's first reaction to the election is live on TheStreet's Facebook page tomorrow morning at 8 a.m. EST. He joins our team of reporters along with experts and analysts tracking the markets with us.
Stocks held gains on Tuesday afternoon as voters headed to the polls to elect the next U.S. president.
The S&P 500 was up 0.5%, the Dow Jones Industrial Average added 0.62%, and the Nasdaq rose 0.66%. The S&P 500 has added nearly 3% over the past two days.
The S&P 500 snapped its worst losing streak in decades on Monday as confidence in an election win for Hillary Clinton inspired market bulls. FBI Director James Comey updated Congress on Sunday that a new investigation into emails tied to Democratic presidential candidate Clinton would not bring any charges. Wall Street had been on edge for the past week after Comey announced the new investigation, making the results of the U.S. presidential election more of an uncertainty.
"The market dislikes uncertainty and a Clinton win provides the market with more clarity about how the policies of the next four years may look," Jennifer Ellison, principal at Bingham Osborn & Scarborough, told TheStreet.
The chance of a Clinton win currently sits at 71%, according to FiveThirtyEight. The statistics site has Clinton winning 302 electoral votes and 48.5% of the popular vote. Separate national polls give Clinton a roughly 48% chance to win to Trump's 44%. Nearly 42 million Americans have already cast their ballots in early voting, a record number which has skewed toward Democrats.