The Election Day stock rally is here as investors continue to price in a Biden win

The Election Day stock rally is here as investors continue to price in a Biden win in the 2020 election. U.S. flags fly half-mast in front of the New York Stock Exchange in New York on Oct. 2, 2020.

Stocks opened sharply higher on Election Day, continuing their winning streak from the start of the week.

Within minutes of the opening bell, the Dow traded 1.8% higher, or nearly 500 points, while the S&P 500 -- Wall Street's broadest measure -- climbed 1.5%. The Nasdaq Composite was up 1.1%.

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