Wall Street Stages Historic Election Day Rally

Wall Street enjoyed an historic Election Day rally Tuesday, surging as investors brushed off weak economic data and looked forward to putting the uncertainty of the presidential voting behind them.

The Dow Jones industrial average soared by more than 300 points, and the other major indexes rose well over 2 percent.

It was the biggest Election Day rally in nearly a quarter of a century - since Americans went to the polls in 1984.

Investors are eager to have the election over with. Analysts predict stocks are headed for a recovery no matter who is elected, as the policies of both John McCain and Barack Obama will likely be guided by the weak economy and the recent flood of government support designed to keep the global financial system from collapsing."The risk of a depression is off the table," said Ben Halliburton, chief investment officer of Tradition Capital Management.

By the close of trading, the Dow had risen 305.45, to 9,625.68.

Copyright AP - Associated Press
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