The major U.S. stock indexes edged higher in morning trading Tuesday, bouncing back from an early slide. Phone company and utilities stocks led the broad increase in the market. Investors had their eye on the tight U.S. presidential race as voters headed to the polls.
KEEPING SCORE: The Dow Jones industrial average rose 75 points, or 0.4 percent, to 18,333 as of 11:41 a.m. Eastern time. The Standard & Poor's 500 index gained 7 points, or 0.3 percent, to 2,138. The Nasdaq composite index added 19 points, or 0.4 percent, to 5,185. The stock market had its biggest gain since March on Monday, when it snapped a nine-day losing streak.
GENERAL ELECTION: Hillary Clinton entered Election Day with multiple paths to victory, while rival Donald Trump must prevail in most of the battleground states to reach 270 Electoral College votes. Control of the Senate was also at stake. The market soared on Monday as Clinton's chances for winning the presidency appeared to improve. Investors like certainty, and Clinton has been seen by the market as likely to maintain the status quo. Trump's policies are less clear, and the uncertainty and uncomfortable closeness of the polls has caused jitters in financial markets.
TRAVEL HAPPY: Priceline Group climbed 6.6 percent after the online travel company reported improved quarterly results. The stock gained $97.12 to $1,577.45.
MINE THIS: Investors bid up shares in mining company Freeport-McMoRan. The stock rose 60 cents, or 5.3 percent, to $11.89.
BUMPY RIDE: Hertz plunged 44.5 percent after the car rental company's latest quarterly earnings came up far short of what analysts anticipated. The stock slid $15.89 to $19.85.
DASHED EXPECTATIONS: CVS Health tumbled 13.3 percent after the drugstore chain and pharmacy benefits manager's third-quarter revenue fell short of Wall Street's expectations. The company also trimmed its outlook. The stock shed $11.10 to $72.29.
ROUGH QUARTER: Valeant Pharmaceuticals International slumped 20.3 percent after the Canadian drugmaker reported a third-quarter loss. The company also slashed its guidance as it continues to face scrutiny over its business practices. The stock lost $3.88 to $15.25.
GLOBAL TRADE: China's exports fell again in October in a fresh sign of weak global demand that is complicating Beijing's efforts to shore up economic growth and reduce reliance on trade and investment. Exports contracted by 7.3 percent from a year earlier while imports fell 1.4 percent. Similarly downbeat figures emerged from Germany, where exports dropped 0.7 percent in September over August, while imports fell 0.5 percent in season- and calendar-adjusted terms.
MARKETS OVERSEAS: In Europe, Germany's DAX was 0.1 percent higher, while France's CAC-40 was up 0.2 percent. London's FTSE 100 was up 0.3 percent. Earlier in Asia, stock indexes closed mostly higher. Hong Kong's Hang Seng rose 0.5 percent, while Seoul's Kospi added 0.3 percent. Tokyo's Nikkei 225 was little changed.
ENERGY: Benchmark U.S. crude was up 2 cents at $44.91 a barrel in New York. Brent crude, used to price international oils, was down 4 cents at $46.11 a barrel in London.
BONDS AND CURRENCIES: Bond prices fell. The yield on the 10-year Treasury note rose to 1.86 percent from 1.83 percent late Monday. In currency markets, the dollar rose to 104.88 yen from Monday's 104.58 yen. The euro gained to $1.1050 from $1.1040. The Mexican peso, which has become an indirect proxy among investors for Trump's chances to win the White House, lost ground to the dollar. The U.S. currency fell to 18.48 Mexican pesos from 18.68 pesos.