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Polls show tight race, Trump leads in betting markets

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Trump-linked stocks rally

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Palantir ( PLTR ) soars after results

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Indexes up: Dow 0.78%, S&P 500 1.04%, Nasdaq 1.35%

(Updated at 11:50 a.m. ET/1650 GMT)

By Lisa Pauline Mattackal and Ankika Biswas

Nov 5 (Reuters) - Wall Street's main indexes rose on

Tuesday in a broad rally, but investors still braced for

volatile trading over the next few sessions as voting began in a

tightly contested U.S. presidential election.

The final outcome could take days as opinion polls in the

campaign's final days showed the contest between Republican

Donald Trump and Democrat Kamala Harris was too close to call.

The former president's odds improved in betting markets,

which many investors have been following for any indication on

the election outcome.

On the voting day, volatility was more noticeable in bonds

and currency markets. Equity markets were largely calm against

the backdrop of an optimistic long-term outlook underpinned by

corporate earnings and economic data.

The VIX, an index of Wall Street volatility, eased to

20.24, well below levels seen during the 2020 election and the

two-month high it hit last week.

All 11 sectors in the S&P 500 gained, with Industrials

, Consumer Discretionary and Information

Technology adding more than 1.3%.

"Some strength on election day is nothing new...the services

number today was quite solid and the bottom line is the economy

remains quite strong," said Ryan Detrick, chief market

strategist at the Carson Group.

U.S. services sector activity showed a surprise rise in

October to a more than two-year high and employment

strengthened, according to the Institute for Supply Management's

non-manufacturing PMI index.

Investors are also keeping an eye on Congressional elections

to determine the balance of power in Washington. Many analysts

predict a split government, which would limit the ability of the

President to enact significant policy changes.

Stocks viewed as bets on a win for the former president

jumped, with Trump Media & Technology Group ( DJT ) surging

14.4% and prison operator Geo Group ( GEO ) gaining 6%.

Crypto stocks tracked bitcoin to rise as Trump has

positioned himself as friendly to the sector.

Megacap growth stocks gained, with Tesla rising 4%,

and Nvidia ( NVDA ) up 3.1%, while economically sensitive small

caps rose 1.1%.

The Dow Jones Industrial Average rose 326.12 points,

or 0.78%, to 42,120.72, the S&P 500 gained 59.24 points,

or 1.04%, to 5,771.93 and the Nasdaq Composite gained

245.09 points, or 1.35%, to 18,425.07.

Palantir ( PLTR ) soared 23% to a record high after the data

analytics firm raised its annual revenue forecast for the third

time.

Shares of Boeing ( BA ), which had risen before the bell

following the end of a prolonged workers' strike, edged 0.8%

lower.

The Federal Reserve's November policy meeting will start on

Wednesday. While markets are betting on a 25-basis point cut to

interest rate, the outlook for future easing has grown uncertain

as data points to a strong economy.

Advancing issues outnumbered decliners by a 2.95-to-1 ratio

on the NYSE and by a 2.18-to-1 ratio on the Nasdaq.

The S&P 500 posted 19 new 52-week highs and six new lows

while the Nasdaq Composite recorded 75 new highs and 88 new

lows.