Stock were rising in intraday trading on Tuesday, adding to gains from the previous session, as America chooses its president for the next four years.
Financial and industrial stocks were the leading gainers Tuesday.
Most polls are indicating that Democratic challenger and former vice president Joe Biden will defeat President Donald Trump in Tuesday's election. But regardless of the outcome, Wall Street is focused on a clear winner and an uncontested result.
"As it pertains to this year’s election, the only variable not priced into the market at this point is a deeply contested election. The market is a numbers machine. It’s constantly pricing itself based on what the most likely future outcomes are and it craves certainty," wrote TheStreet's Bret Kenwell. He broke down why a Trump or Biden victory doesn't really matter for stocks.
A Biden win could mean the U.S. enacts a stimulus package for an economy struggling through the coronavirus pandemic. House Democrats and the White House so far have failed to approve a new relief package despite months of negotiations.
And this comes as stocks finished higher on Monday as investors prepared for a week filled with not only the presidential election but also a Federal Reserve policy meeting and the U.S. jobs report.