US stocks climbed on Tuesday on speculation the US presidential election will produce a clear winner, removing a major source of uncertainty that has dogged investors. Investors awaited results of a close race that will set the country's course for the next four years on spending, taxes, healthcare and other policies.
Polls showed President Barack Obama and Republican challenger Mitt Romney in a tight race, with a few battleground states expected to decide the winner. The outcome will affect industry sectors from energy to financials. The Dow Jones industrial average was up 144.06 points, or 1.10 percent, at 13,256.50. The Standard & Poor's 500 Index was up 12.05 points, or 0.85 percent, at 1,429.31. The Nasdaq Composite Index was up 15.97 points, or 0.53 percent, at 3,015.63.
Gold and oil futures also gained. Among S&P 500 sectors energy led gains along with materials and industrial shares. The S&P 500 energy index was up 1.5 percent. Defence shares were also gaining, with shares of Raytheon up 2.4 percent at $57.79.