It’s finally Election Day, and the markets and exchange traded funds (ETF) are hopping on investor optimism and eagerness to have the elections over with.
The Dow Jones Industrial Average has surged by as much as 300 points at points as the markets brushed aside downbeat economic reports, says Sara Lepro for the Associated Press. The Commerce Department reported that factory orders fell 2.5% between August and September, far worse than the 0.7% analysts expected.
Gas prices are now at their lowest point in more than 20 months. The national average is $2.39 a gallon, and prices have dropped for 48 consecutive days, reports Lara Moscrip for CNN Money. The cost of a gallon of gas is now 41.9% off the record high of $4.11 set on July 17.
United States Gas (UGA) is down 44%.