Stocks open solidly higher as investors await election outcome

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Stocks opened with solid gains Wednesday, as investors awaited the outcome of the presidential election, with a handful of key battleground states too close to call. The Dow Jones Industrial Average rose 278 points, or 1.7%, while the S&P 500 was up 1.8%. The tech-heavy Nasdaq Composite jumped 2.9%, with some analysts tying gains to expectations Democrats would fail to take control of the Senate, lessening prospects for increased regulatory pressure. In the presidential race, Democratic challenger Joe Biden maintained a lead in the popular vote but remained shy of the 270 electoral college votes needed for victory as outcomes in several important battleground states remained unclear.
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