Stock market today: Indexes rise as Wall Street awaits the result of the US election

• US stocks were slightly higher Tuesday as Wall Street looked ahead to the result of the US election.
• Some Trump trades edged up Tuesday morning after being hit on Monday by rising odds of a Kamala Harris win.
• Investors will quickly shift their attention on Wednesday to the start of the Fed's next meeting.

US stocks rose on Tuesday as investors gear up for the result of the presidential election.

Voters are heading to the polls to conclude the dramatic race between Kamala Harris and Donald Trump. The candidates are virtually tied in the polls nationally and in many swing states, setting the stage for a period of uncertainty as vote counts come down to the wire.

Though new momentum from Harris over the weekend weighed on the Trump trade on Monday, Treasury yields, bitcoin, and the Trump Media stock have all moved up on the day of the vote as markets position for a potential victory for the former president.

Whoever does end up in the White House will have an impact on the trajectory of the the market, as each candidate has promised sharply contrasting views on everything from trade to tax policy.

Immediately following the election, Wall Street will turn to the Federal Reserve's policy meeting on Wednesday and Thursday. According to the CME FedWatch tool, markets see a 96% chance the Fed cuts its benchmark rate by 25 basis points at the conclusion of the meeting on Thursday.

Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:

• S&P 500: 5,736.46, up 0.43%
• Dow Jones Industrial Average: 41,868.85, up 0.18% (+74.25 points)
• Nasdaq composite: 18,304.48, up 0.67%

Here's what else is going on:

• Another half-point rate cut could come this year amid job market weakness, according to a Citi economist.
• The crypto industry is already eyeing the 2026 midterms with $78 million geared for supportive candidates.
• The Polymarket whale betting on Trump is down $3 million after Harris' odds jumped over the weekend.
• Chip fever has created an $11 billion debt market backed by Nvidia's AI-enabling GPUs.

In commodities, bonds, and crypto:

• West Texas Intermediate crude oil climbed 0.38% to $71.76 a barrel. Brent crude, the international benchmark, was higher by 0.35% to $75.34 a barrel.
• Gold increased by 0.30% to $2,754.1 an ounce.
• The 10-year Treasury yield gained 1 basis point to 4.327%.
• Bitcoin rose 1.97% to $68,814.