Stocks Rally as Election Nears End

U.S. stocks rallied on Tuesday, extending gains into a second day, as Wall Street embraced the notion that the uncertainty that has come with the presidential campaign soon would be over.  The Dow Jones Industrial Average rose 133.24 points, or 1.02%, to 13,245.68. The S&P 500 index climbed 11.13 points, or 0.79%, to end at 1,428.39. The Nasdaq Composite gained 12.27 points, or 0.41%, to 3,011.93.

Oil and gasoline futures rose on Tuesday, tracking a rally in U.S. stocks, as voters went to the polls for the U.S. presidential and congressional elections. Crude for December delivery (NMN:CLZ2)  rose $3.06, or 3.6%, to settle at $88.71 a barrel on the New York Mercantile Exchange.

News Corp. (NASDAQ:NWS) said Tuesday that its fiscal first-quarter profit more than doubled on special items and improved results at its cable networks and global proceeds from the latest “Ice Age” sequel. The company said it earned $2.23 billion, or 94 cents a share in the period ended Sept. 30, compared with a profit of $738 million, or 28 cents, in the year-ago quarter.

AOL Inc (AOL) reported higher-than-expected revenue and profit on the strongest advertising growth the company has seen in seven years. AOL reported on Tuesday that third quarter total revenue was flat at $531.7 million, although this was well ahead of analysts’ average estimate of $521.6 million, according to Thomson Reuters I/B/E/S.