U.S. markets turn brisk on election day

NEW YORK, Nov. 4 (UPI) -- U.S. markets turned in a brisk Tuesday, gaining more than 3 percent, a new record for an Election Day upswing.

The Dow Jones industrial average gained 3.28 percent. The previous Election Day record gain for the index was 1.2 percent set in 1984 during Ronald Reagan's second presidential victory, The Wall Street Journal reported.

Elections aside, investors were "celebrating a thaw in the credit markets," Hogan told CNNMoney.

By close, the Dow Jones industrial average gained 305.45 points to 9,625.28. The Standard & Poor's 500 rose 4.08 percent, 39.45 points, to 1,005.75. The Nasdaq composite index was up 53.79 points, 3.12 percent, to 1,780.12.

On the New York Stock Exchange, 2,464 stocks advanced and 663 declined on a volume of 4.9 billion shares traded.

The benchmark 10-year U.S. Treasury bond rose 1 14/32 to yield 3.8736 percent.

The dollar was mixed. The euro rose to $1.3014, compared to $1.2642 . Against the Japanese yen, the dollar rose to 99.69 yen, up from 99.07 yen.

In Tokyo, the Nikkei average gained 537.62 points to 9,114.60, up 6.27 percent.

The FTSE 100 index in London rose 4.42 percent, up 196.22 points, to 4,639.50.