Stocks Ended Higher for a Fourth Straight Day

U.S. stocks ended sharply higher on Thursday, gaining for a fourth straight day, with the presidential election results in focus. The Dow Jones Industrial Average rose 542.52 points, or 1.95%, to 28,390.18. The S&P 500 jumped 67.01 points, or 1.95%, to 3,510.45. The Nasdaq Composite gained 300.15 points, or 2.59%, to 11,890.93.

Oil futures fell Thursday, suffering their first loss in four sessions, with attention turning back to the ongoing global rise in COVID-19 cases and worries about energy demand if economies slow. West Texas Intermediate crude for December delivery fell 36 cents, or 0.9%, to settle at $38.79 a barrel. January Brent crude lost 30 cents, or 0.7%, at $40.93 a barrel.

The Federal Open Market Committee (FOMC) said in its November monetary policy statement that it would be holding key interest rates unchanged near-zero and maintaining the pace of its bond-buying program.