The S&P 500 rose solidly on Tuesday in a broad rally for stocks as traders awaited the results from a high-stakes U.S. presidential election.

The benchmark index gained 1.23% to close at 5,782.76. The Nasdaq Composite advanced 1.43% to 18,439.17. The Dow Jones Industrial Average climbed 427.28 points, or 1.02%, and settled at 42,221.88.

Banks, which would stand to benefit from deregulation under GOP control, were slightly higher.

ASX SPI up 61 points.

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