Stocks Up on Election

But Why? Is it because investors expect Barack Obama and the Democrats to win? Or because they're glad that the election is finally over and our country can go on to deal with other issues like our sagging economy?

Or maybe it's because election days are full of excitement, anticipation and hope. And those emotions boost investors' moods.

NEW YORK (AP) -- Wall Street was enjoying an Election Day rally Tuesday, surging as investors brushed off weak economic data and looked forward to putting the uncertainty of the presidential voting behind them. The Dow Jones industrial average soared more than 300 points, and the other major indexes rose well over 3 percent.

The Commerce Department said factory orders fell 2.5 percent in September from August levels, much worse than the 0.7 percent drop analysts predicted. But investors generally expect data from September, and even October, to be extremely weak, as credit markets began to seize up in mid-September. Analysts believe much of the bad news is already factored into stock prices.