Stocks rally on election day - KWWL - Eastern Iowa Breaking News, Weather, Closings

Stocks rally on election day

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Stocks are closing sharply higher on Wall Street as Americans head to the polls in a closely fought U.S. presidential election.

The Dow Jones industrial average rose 133 points to close at 13,246 Tuesday.

The Standard & Poor's 500 index rose 11 points to 1,428, while the Nasdaq composite index rose 12 points to 3,012.

Companies that investors believe would benefit under a potential Romney administration had some of the biggest gains. They included United Technologies and Boeing, which do substantial business with the Defense Department.

Energy company stocks rose after the price of crude oil jumped $3 to $88.71 a barrel.

Two stocks rose for every one that fell on the New York Stock Exchange.  Volume was lighter than usual at 3.2 billion shares.

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