U.S. Stocks Climb Amid Tight Presidential Race and Economic Resilience

U.S. stocks surged Tuesday as robust economic data buoyed sentiment. Voting began in the tight presidential race between Trump and Harris, causing market volatility. All S&P 500 sectors rose, particularly industrials and tech. Investors keenly watched both the election outcome and the Federal Reserve's forthcoming policy statement.

U.S. stocks experienced a positive upswing on Tuesday, driven by promising economic data. However, with the U.S. presidential election in full swing and polls showing a tight race between Donald Trump and Kamala Harris, investors braced for a potentially tumultuous week.

The Institute for Supply Management reported that its non-manufacturing PMI rose to 56.0, surpassing expectations and signaling strength in the services sector. Meanwhile, former President Trump's odds improved in betting markets, which are often seen as election indicators by investors.

The Dow Jones, S&P 500, and Nasdaq Composite each registered gains, with notable movements in tech and industrial stocks. The Fed's upcoming policy announcement, expected to include a rate cut, also kept investors on edge amidst this week's events.

(With inputs from agencies.)