Stock market today: Wall Street rallies on Election Day as economy remains solid

U.S. stocks rallied Tuesday as voters headed to the polls on the last day of the presidential election and as more data piled up showing the economy remains solid.

The S&P 500 rose 1.2% to pull closer to its record set last month. The Dow Jones Industrial Average climbed 427 points, or 1%, while the Nasdaq composite gained 1.4%.

The market’s main event was the election, even if the result may not be known for days or weeks as officials count all the votes. Such uncertainty could upset markets...