Big market moves don't usually occur on Election Day. But
today seems to be an exception.
Both the S&P 500 and Dow Jones Industrial Average are up
more than 1% as of 2 p.m. eastern time today. The Nasdaq has
climbed a half a percent.
Those may not sound like much. But they're big moves for an
Two of the last three elections have produced no gains. Only
once since 1980 has the S&P 500 edged up more than 1.1%. The
lone exception? Four years ago, when the index shot up more than
Phillips 66 (
), AOL (
, are among the stocks making big moves today.
AOL (remember them?) advanced 14% after reporting
third-quarter earnings that outpaced analyst expectations.
Chipotle - which has been in a slump since Einhorn slammed it at
the Value Investing Congress in early October - has shot up 5.4%
after Bank of America Merrill Lynch analysts upgraded it to a
Phillips 66 also received an analyst upgrade, boosting its
shares 6% in late-day trading.