News Summary: Markets rise on Election Day

AP News
Posted: Nov 06, 2012 5:10 PM
News Summary: Markets rise on Election Day

ELECTION DAY: The stock market climbed higher Tuesday as investors waited for the finish of a closely fought U.S. presidential election. The Dow Jones industrial average rose 133 points to close at 13,245.

LOOKING AHEAD: Companies that investors believe would benefit if Mitt Romney wins surged ahead. United Technologies and Boeing, which do substantial business with the Defense Department, were among the Dow's top stocks.

SANDY EFFECTS: The price of crude oil jumped $3 to $88.71 in New York as reports suggested that Superstorm Sandy caused a drop in gasoline supplies. That helped lift petroleum-refiner stocks, including Tesoro Corp and Phillips 66.