Wall Street rallies on Election Day, Palantir soars, Bitcoin tops $70,000: What will move the market on Tuesday?

Wall Street rallied on Tuesday as investor sentiment improved after millions of Americans voted for the 47th president.

The betting market is slightly tilted towards Donald Trump, with CFTC-regulated Kalsi giving Trump a 56% chance of winning to Kamala Harris’ 44%.

National polls show a close race, with the latest New York Times/Siena College poll showing both candidates tied for the popular vote at 48%.

The S&P 500 rose 1.2%, and the tech-heavy Nasdaq 100 rose 1.5%, marking the biggest one-day gains in about a month.

All 11 sectors of the S&P 500 rose, with consumer discretionary stocks outperforming. Small-cap stocks also joined in the rally, with the Russell 2000 index rising 1.1%.

Palantir Technologies Co., Ltd. PLTR Stocks soared to the top of the S&P 500 after the artificial intelligence company beat quarterly profit estimates and provided strong guidance.

In macroeconomic news, US service sector activity hit a two-year high in October, beating expectations.

U.S. Treasury yields rose 5 basis points and the dollar fell for the second straight session.

Gold rose 0.3%, hovering near record highs, and oil prices rose 1.2% after rising 3.2% on Monday.

Sentiment toward virtual currency markets such as Bitcoin was also strong. BTC/USD Dogecoin rises 4.5% to over $70,000 doge/usd 12% jump.

Also read: Dollar could rise 7% if Trump and Republicans win, but could fall 5% with Harris win, JPMorgan says

Tuesday’s performance of major US indexes and ETFs

According to data from Benzinga Pro:

SPDR S&P 500 ETF Trust spy It rose 1.1% to $575.87. SPDR Dow Jones Industrial Average diamond It rose 0.9% to $421.79. Invesco QQQ Trust Series focuses on technology QQQ It jumped 1.4% to $492.61. iShares Russell 2000 ETF I.W.M. It rose 1.1% to $222.47. Consumer Discretionary Sector SPDR Fund XLY outperformed, rising 1.7%. Materials Select Sector SPDR Fund XLU It was a laggard and rose 0.4%.

monday stock mover

Stocks that reacted to the earnings report include:

Vertex Pharmaceuticals Co., Ltd. VRTXup 4.8% Palantir Technologies Inc., up 22.8% NXP Semiconductors NV NXPIdown 6.8% Diamondback Energy fang-1.6% American International Group A.I.G.-2.3% Illumina Inc. ILMNdown 0.5% Apollo Global Management Co., Ltd. Appointmentup 6.2% Emerson Electric Company EMRup 6.8%, Marathon Petroleum Corporation M.P.C.up 3.9%, Cummins Inc. CMI8.8% increase, Targa Resources TRGP4.7%, Yum! Brands Co., Ltd. Yum2.5% increase,

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