Rare Election-Day Market Surge

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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 Election Day.

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 4%.

Phillips 66 ( PSX ), AOL ( AOL ) and David Einhorn's favorite company, Chipotle ( CMG ) , 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 "buy" rating.

Phillips 66 also received an analyst upgrade, boosting its shares 6% in late-day trading.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: AOL , CMG , PSX

Wyatt Investment Research

Wyatt Investment Research

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