02:12 PM EST, 11/05/2024 (MT Newswires) -- US benchmark equity indexes were higher intraday as markets awaited results of the presidential election.

The Nasdaq Composite was up 1.3% at 18,413.8 after midday Tuesday, while the S&P 500 rose 1% to 5,771.5. The Dow Jones Industrial Average advanced 0.9% to 42,159. All sectors were in the green, led by consumer discretionary and industrials.

Americans are voting to pick the country's next president, with Democratic Party nominee and US Vice President Kamala Harris competing with Republican Party nominee and former President Donald Trump.

Wall Street will be watching key swing states, with the market likely to wobble through uncertainty until a clear result is known, according to analysts. It could take several days before the outcome of the vote is known, analysts said.

"The US presidential election likely will be decided by a few thousand voters across a handful of swing states," Wells Fargo Investment Institute said.

The US two-year yield was up 3.4 basis points at 4.21% intraday Tuesday, while the 10-year rate rose 1.4 basis points to 4.32%.

In company news, Palantir Technologies ( PLTR ) shares surged nearly 22%, the best performer on the S&P 500. Late Monday, the software maker posted stronger-than-expected third-quarter results and raised its full-year outlook amid surging demand for artificial intelligence.

GlobalFoundries ( GFS ) was the top gainer on the Nasdaq intraday Tuesday, up 14%, after it delivered a third-quarter beat.

Celanese (CE) shares plunged 25%, the worst performer on the S&P 500, following a third-quarter miss late Monday.

NXP Semiconductors ( NXPI ) shares fell 6.8% intraday Tuesday, the second steepest decline on the S&P 500 and the Nasdaq. Late Monday, the company reported third-quarter results that declined from a year earlier, while its fourth-quarter outlook fell short of the Street's projections.

Microchip Technology ( MCHP ) , Devon Energy ( DVN ) and Frontier Communications Parent ( FYBR ) are among the companies scheduled to report results after Tuesday's closing bell.

In economic news, the US services sector continued to expand in October even as new orders growth eased, the Institute for Supply Management said.

"Concerns over political uncertainty were again more prevalent than the previous month," said Steve Miller, chair of the ISM's services business survey committee. "Impacts from hurricanes and ports labor turbulence were mentioned frequently, although several panelists mentioned that the longshoremen's strike had less of an impact than feared due to its short duration."

West Texas Intermediate crude oil increased 0.2% to $71.60 a barrel intraday.

Gold was up 0.1% at $2,749.20 per troy ounce, while silver rose 0.5% to $32.78 per ounce.