Wall Street refreshed its largest Election Day rally in 24 years on Tuesday with all major indexes soaring more than 3 percent.
The Commerce Department said Tuesday that factory orders fell 2. 5 percent in September from August levels, much worse than the 0.7 percent drop analysts predicted.
However, investors looked beyond economic data trying bottom fishing as uncertainty for the White House is going to be ended.
Shares of energy and material led stocks as U.S. dollar plunged against other major currencies. Exxon Mobil Corp. rose 4.3 percent, aluminum producer Alcoa Inc. rose 3.5 percent.
General Electric rose 7.6 percent on reports that the U.S. government may buy stakes in the company.
Strong earnings at MasterCard Inc. and Archer Daniels Midland Co. bolstered optimism about consumer spending and corporate pricing power despite the stalled economy.
The Dow Jones Industrial Average rose 305.45, or 3.28 percent, to 9,625.28. The Standard & Poor's 500 index gained 39.45, or 4.08 percent, to 1,005.75. The Nasdaq composite index rose 53.79, or 3. 12 percent, to 1,780.12.
(Xinhua News Agency November 5, 2008)
