Dow Jones climbs 400 pts ahead of US elections

US stock indexes rose at the close on Nov. 5 with the launch of the 60th presidential election in the US, as investors awaited initial indicators for its results.

The Dow Jones Industrial Average gained 427 points, or 1%, to 42,221 points. Likewise, the S&P 500 Index grew 1.25% to 5,782 points, and the Nasdaq Composite increased about 1.45%, or 259 points, to 18,439 points.

According to the Dow Jones Market Data, this is the sixth consecutive time that the Dow Jones and S&P 500 have recorded gains during the Election Day session, and the fifth time in a row for the Nasdaq.

As for the European indices, STOXX Europe 600 closed stable at 509.53 points, as industrial companies traded 1.2% higher, while automobile sector lost 1.8%.

While FTSE 100 fell 0.15% to 8,172 points, DAX 40 increased 0.55% to 19,256 points. CAC 40 inched up 0.50% to 7,407 points.

In Japan, Nikkei 225 edged up 1.1%, or 421 points, to 38,475 points. TOPIX added 0.75% to 2,664 points.

In the oil market, futures contracts for Brent crude for January delivery rose 0.60%, or $0.45, to $75.53 per barrel, a decline from its highest level attained during the session at $76.24.

Meanwhile, prices of West Texas Intermediate (WTI) crude oil for December delivery rose 0.70%, or $0.52, to $71.99 per barrel, after hitting the highest level at $72.67 during the session.

As for gold, futures prices for the yellow metal for December delivery inched up 0.1%, or $3.5 to $2,749.70 per ounce.

Investors are closely anticipating the launch of the US elections on Nov. 6. This will play a key role in determining the direction of stocks until year-end. Recent surveys show that Donald Trump and rival candidate Kamala Harris are gathering the same level of support.