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Stock futures jumped Tuesday morning as Americans head to the polls to cast their ballots for the next president.

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The Dow Jones Industrial Average jumped over 400 points, a gain of 1.5%, while the S&P 500 rose 1.3%. The tech-heavy NASDAQ Composite was up 0.6%.

The gains extend the broad rally in equities Monday.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 26925.05 +423.45 +1.60%
SP500 S&P 500 3310.24 +40.28 +1.23%
I:COMP NASDAQ COMPOSITE INDEX 10957.611413 +46.02 +0.42%

Among the issues for voters are an economy in a slow recovery and the ongoing pandemic.

Cases of COVID-19 in the U.S. continue to surge, with 93,000 daily cases tallied on Monday. Nearly 9.3 million Americans have been infected with the virus, resulting in over 231,000 deaths, according to data provided by Johns Hopkins University.

STOCKS SEE ELECTION BOOST, SENATE RACES NARROW

European indices rose as well, with the STOXX Europe 600 tacking on 1.6%, with similar gains for the German DAX, French CAC 40 and U.K. FTSE 100.

LIGHT ON EARNINGS

Earnings season will take a break on Tuesday, as most eyes turn toward the election. However, there are some notable companies reporting quarterly results before the market opens, including Humana, Eaton Corp. plc, McKesson Corp. and Fox Corp.

Ticker Security Last Change Change %
HUM HUMANA 408.58 +9.30 +2.33%
ETN EATON CORP. 107.34 +3.55 +3.42%
MCK MCKESSON CORPORATION 152.03 +4.54 +3.08%
FOXA FOX CORP. 27.40 +0.88 +3.32%

Fox Corp. is the parent of FOX Business and Fox News.

Ticker Security Last Change Change %
PRU PRUDENTIAL FINANCIAL 65.93 +1.91 +2.98%
Y ALLEGHANY 565.33 +18.40 +3.36%

After the close of trading, financial services companies Prudential Financial and Alleghany Corp report quarterly results.

Ticker Security Last Change Change %
PYPL PAYPAL HOLDINGS INC. 187.76 +1.63 +0.88%

In other corporate news, PayPal Holdings Inc. shares fell nearly 4% in early Tuesday trade after the financial technology giant offered tepid guidance after a solid quarter.

PAYPAL SEES PANDEMIC BOOST, VENMO TO HIT $900M IN REVENUE

TWITTER IN SPOTLIGHT

Ticker Security Last Change Change %
TWTR TWITTER INC. 39.47 -1.89 -4.57%

Twitter shares are in the spotlight on Tuesday after CEO Jack Dorsey will keep his job after a review from activist investor Elliott Management as Dorsey has seen his net worth fall over $178 million since last Friday.

SPARSE ECONOMIC DATA

The last remaining bit of economic data before the polls close will be released at 10 a.m., with economists getting a look at September factory orders. Expectations call for a rise of 1.1%, up from 0.7% in the prior month.

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West Texas Intermediate crude oil rose for a second day, climbing 2.7% to $37.80 a barrel. In other commodities, gold ticked higher to $1,899.40 an ounce.

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