Election Day Excitement Boosts US Stocks Amid Uncertainties

US stock indexes rose on Election Day, driven by the artificial-intelligence boom and corporate earnings surprises. Palantir's strong performance countered setbacks like Wynn Resorts' decline. While market attention focuses on the election, investors are advised to consider long-term corporate profits. Historical trends show stocks often rise regardless of election outcomes.

As Americans headed to the polls on Election Day, US stock indexes saw a modest rise, fueled primarily by optimism surrounding the artificial-intelligence sector. The S&P 500 climbed 0.4% in early trading, nearing its previous month's record. Similarly, the Dow Jones Industrial Average went up by 66 points, or 0.2%, while the tech-heavy Nasdaq experienced a 0.6% uplift.

Key players such as Palantir Technologies significantly contributed to the market's positive trajectory, soaring 16.7% following a robust quarterly performance that surpassed analysts' expectations. Meanwhile, Boeing's share price edged up slightly as factory workers accepted a new employment contract, allowing the company to restart production after a lengthy strike.

However, uncertainties linger, primarily due to the ongoing presidential election whose outcome might not be decided for some time. Investors are also eyeing the Federal Reserve's impending decision on interest rates. Despite these uncertainties, history suggests that the US stock market generally trends upward over the long term, regardless of whether a Democrat or Republican occupies the White House.

(With inputs from agencies.)