U.S. stocks extend gains on Election Day

U.S. stocks reversed early losses to end higher Tuesday following previous day's solid gains, as Investors are eagerly awaiting the outcome of the country's presidential race.

The Dow Jones Industrial Average rose 73.14 points, or 0.40 percent, to 18,332.74. The S&P 500 added 8.04 points, or 0.38 percent, to 2,139.56. The Nasdaq Composite Index increased 27.32 points, or 0.53 percent, to 5,193.49.

On Monday, U.S.stocks rebounded strongly, with both the S&P 500 and the Nasdaq Composite Index snapping a nine-day losing streak after the FBI again cleared Democratic presidential nominee Hillary Clinton over her use of a private email server. All three major indices surged over 2 percent.

Polls are scheduled to open early Tuesday and the last one will close past midnight East Coast time, as Americans cast their ballots to decide the next U.S. president and control of Congress.

Financial markets around the world had been pricing in a victory for Democratic nominee Hillary Clinton over her Republican counterpart, Donald Trump, according to the CNBC.

Financial markets in general view a Clinton win as the better outcome in the election, as it presents fewer unknowns and possibly more stability for markets than a victory for her Republican rival Donald Trump.

There is no major economic report due Tuesday.

Overseas, European equities also increased broadly Tuesday amid the U.S. election. German benchmark DAX index at Frankfurt Stock Exchange inched up 0.24 percent, while British benchmark FTSE 100 Index added 0.53 percent.

In Asia, Chinese shares closed higher Tuesday on the release of October's customs data, with the benchmark Shanghai Composite Index rising 0.46 percent to 3,147.89 points. Enditem