"We're moving closer to a definition on the election front"
- Mark Luschini, chief investment strategist at Philadelphia-based Janney Montgomery Scott LLC
U.S. stocks were trading in the positive territory for a second consecutive day on Tuesday, as Americans headed to polls to elect the next president of the world's biggest economy, while deepening concerns over Greece's future in the Eurozone had little effect.
Standard & Poor's 500 jumped 0.79 per cent to 1,428.39. The Dow Jones Industrial Average skyrocketed 1.02 per cent to 13,245.68. The Nasdaq Composite advanced 0.41% per cent, or 12.27 points, to 3,011.93.
"We're moving closer to a definition on the election front," said Mark Luschini, who helps manage $54 billion as chief investment strategist for Philadelphia-based Janney Montgomery Scott LLC. "It's offering investors reason to say, ‘we move from the unknown category regardless of the outcome."
"People are believing that there is such an element of surprise that however this turns out, you're going to get a big reaction because some people are going to be baffled [by the result]," said Art Cashin, director of floor operations at UBS Financial Services.
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