• A day of green on election day. Stocks were soaring on Tuesday as Americans hit the voting polls. The tech-heavy Nasdaq Composite led with the most gains rising about 1.4%. It was the best day for the exchange since early October. The benchmark S&P 500 moved up roughly 1.2%, with it being the best session since Sept. 19. The Dow Jones Industrial Average soared 1%, or more than 400 points.
• The dollar and yield headed lower. The dollar retreated further on Tuesday as well as the yield on the benchmark 10-year Treasury dropped 2 basis points to hover around 4.29%. It had moved as high as 4.36% earlier in the session before retreating by late afternoon.
• Investors now await the November policy decision from the Federal Reserve. Chair Jerome Powell is overwhelmingly expected to bring in a 25 basis point rate cut at the end of the two-day meeting on Thursday.
• DJT stock saw wild swings. Trump Media & Technology Group stock was briefly halted for volatility in late afternoon trading. Trump maintains a roughly 60% interest in DJT. Shares have more than doubled from their September lows.
• Big gainers. Palantir was a key mover on Tuesday as well as Astera Labs, Tesla, and Nvidia. Shares of Nvidia jumped 2.5% midday, while its manufacturer, Taiwan Semiconductor Manufacturing rose 2.9%.
• Boeing shares drop after company strikes deal with machinists union. The company struck a deal with its machinists union Monday evening. 59% of the group voted to approve the deal and end the nearly two-month-long strike, which cost the company billions.
• Other big losers. major losers on Tuesday were mining giant Cleveland-Cliffs falling more than 7% after missing on earnings and drugmaker AstraZeneca who fell 7% on news that the company is trying to break into the weight-loss drug market.
• Gold and silver moved higher. Both gold and silver prices were modestly higher on Monday.
• Oil prices jumped. The price of oil jumped almost 3% on Monday on OPEC+'s decision for a month's delay in plans to increase output.

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"We could see a jolt of volatility and a knee-jerk reaction once there is more clarity on the election outcome or if the election results take longer to be known. Regardless, our view is investors should continue to focus on the primary trend and try to filter out the short-term noise." -Truist co-chief investment officer Keith Lerner in a note on Monday 

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Most Active Stocks

• Astera Labs, Inc. (ALAB)
• Palantir Technologies, Inc. (PLTR)
• Plug Power, Inc. (PLUG)
• Nvidia (NVDA)
• Super Micro Computer, Inc. (SMCI)
• Nova (NVMI)
• Trump Media & Technology Group (DJT)
• Datadog, Inc. (DDOG)
• Airbnb, Inc. (ABNB)
• Celanese Corp. (CE)

In the Spotlight

Palantir Sees Big Stock Jump After Earnings 

Palantir shares exploded on Tuesday by 23.5% after the company reported third quarter earnings that surpassed expectations. This is thanks to higher-than-anticipated spending from the US government on its AI tech. Global government spending on Palantir’s products, primarily from the US, rose 40% from the prior year to $408 million in the third quarter, resulting for 56% of the company’s total revenue for the period. This was ahead of the $379 million expected for the segment, according to Bloomberg consensus estimates.

Mazda Issues a Big Recall

Car manufacturer Mazda is issuing recalls for over 150,000 vehicles. This includes over 80,000 CX-70 and CX-90 models. The company is recalling 80,915 of its 2024-2025 CX-90 and 2025 CX-70 vehicles equipped with a Dash Electrical Supply Unit (ESU). According to\ the National Highway Traffic Safety Administration (NHTSA) recall report, Mazda said, “during vehicle startup, the defroster, seat belt warning, 360 degree view monitor functions, and the PHEV high-voltage battery cooling system may not function properly.”