Stocks rise as investors anticipate election's end

Major stock market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election.
By MATTHEW CRAFT Modified: November 6, 2012 at 4:57 pm •  Published: November 7, 2012

In the market for government bonds, the yield on the benchmark 10-year U.S. Treasury note rose to 1.75 percent. That's up from 1.68 percent late Monday.

Even with the surge Tuesday, it remained a quieter Election Day for the stock market than last time.

During the financial meltdown four years ago, big swings in the market became commonplace. On Nov. 4, 2008, the Dow shot up 305 points, easily the biggest Election Day rally of all time. Investors expected a victory for Barack Obama.

On Election Day 2004, the prospect of a close election led to a late sell-off, and the Dow finished down 18 points, snapping a five-day winning streak. John Kerry didn't concede to George W. Bush until the following day.

Others making gains

Among other stocks making big moves Tuesday:

Weight-loss company Medifast rose $2.29 to $29.11 after reporting that its quarterly earnings increased more than 40 percent as expenses fell.

Express Scripts sank $7.73 to $55.15. The pharmacy benefits manager warned that persistently high unemployment and economic uncertainty would hurt its business next year.

NYSE Euronext fell $1.34 to $24.27. The parent company of the New York Stock Exchange reported Tuesday that its quarterly earnings fell by nearly half. A drop in the number of transactions it handles pulled down revenue.