Source: Xinhua
11-05-2008 08:36
Special Report: U.S.Presidential Election 2008NEW YORK, Nov. 4 (Xinhua) -- Wall Street opened higher and headed for an Election Day rally Tuesday as U.S. citizens lined up at polling stations to vote in a new president.
Analysts in general do not believe that one candidate will boost the market more than the other. However, whoever comes to the White House is expected to remove some uncertainty from Wall Street.
Investors also awaited a factory orders report due at 10:00 a.m. EST (1500 GMT). The U.S. Commerce Department is expected to post the second straight monthly drop in factory orders during September.
Moreover, the key bank-to-bank lending rate known as the London Interbank Offered Rate, or Libor, fell for the 17th day in a row. Libor on three-month dollar loans dropped to 2.71 percent from 2.86 percent Monday.
The Dow Jones rose 168.38 to 9,488.21. Broader indexes also rose strongly. The Standard & Poor's 500 index advanced 17.93 to 984.23, and the Nasdaq rose 26.81 to 1,753.14.
Editor:Xiong
