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The Closing Bell: U.S. Stocks Climb As Voters Head To The Polls
FYI: U.S. stocks climbed Tuesday as investors awaited the results of midterm elections that could change control of Congress and put a brake on much of the White House’s agenda for the next two years.
Although the stock market remained fairly quiet at midafternoon, some corners were busier as traders placed bets on how the election may reshape the legislative branch of the U.S. government.
Gun makers, whose shares tend to jump along with gun sales when Democrats win office, rose sharply on fears that lawmakers could pass firearm legislation. Sturm Ruger RGR +3.66% gained 3.1%, American Outdoor Brands added 5.4% and Vista Outdoor VSTO +2.15% rose 2.1%.
Meanwhile, shares of some coal companies, which have jumped since 2016 as President Trump has repeatedly promised to support the industry and roll back restrictions, dropped. Arch Coal ’s ARCH -1.24% stock slumped 1.4% and Cloud Peak Energy CLD -3.53% declined 2.7%.
