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• Oil prices edge up on Gulf of Mexico storm ahead of US election results
  (Reuters) - Oil prices edged up about 1% on Tuesday with a storm expected...
  (Reuters) - Oil prices edged up about 1% on Tuesday with a storm expected to cut U.S. output in the Gulf of Mexico and as the U.S. dollar weakened on Election Day with polls showing America's presidential race exceptionally close.
  
  Brent crude oil futures rose 45 cents, or 0.6%, to settle at $75.53 a barrel. U.S. West Texas Intermediate (WTI) crude rose 52 cents, or 0.7%, to settle at $71.99.
  
  "Crude oil is bid (up) on bullish supply/demand dynamics, geopolitics, and election fever, with a little weather thrown in for good measure," Bob Yawger, director of energy futures at Mizuho, said in a report.
  
  The U.S. presidential contest between Republican former President Donald Trump and Democratic Vice President Kamala Harris hurtled toward an uncertain finish as Americans headed to the polls.
  
  "The (election) result might not be known for days, if not weeks, and it will most plausibly be challenged and contested," said Tamas Varga, an analyst at PVM, a brokerage and consulting firm that is part of TP ICAP.
  
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• Dow surges over 400 points as U.S. stocks finish sharply higher on Election Day
  Heading into election night, stocks delivered their strongest session...
  Heading into election night, stocks delivered their strongest session in weeks on fresh signs of economic strength even while Treasury yields and volatility eased. How things go tomorrow could depend on what investors know by then, and the big question might be unanswered when Wednesday's opening bell rings.
  
  "Remember, Joe Biden was not declared the winner until the Saturday after Election Day in 2020, and the polls were not nearly as tight in the run-up to that race as they have been in 2024," said Michael Townsend, managing director, legislative and regulatory affairs at Schwab. "Market volatility is likely to increase this week if we have ongoing uncertainty about the outcome."
  
  He added, "Markets don't care much about the outcome, but the markets are eager for an outcome. Investors, like most people, mostly just want the election behind them."
  
  If you're wondering how the outcome might affect the market, check the latest election insights from Schwab's experts. Issues like taxes, immigration, and the regulatory environment all could be affected by the results. You can also learn how to follow futures trading trends tonight as vote totals roll in.
  
  Here's where the major benchmarks ended:
  
  The S&P 500^® index (SPX) rose 70.07 points (1.23%) to 5,782.76; the Dow Jones Industrial Average^® ($DJI) added 427.28 points (1.02%) to 42,221.88; and the Nasdaq Composite^® ($COMP) increased 259.19 points (1.43%) to 18,439.17.
  
  The 10-year Treasury note yield (TNX) dropped two basis points to 4.29%.
  
  The CBOE Volatility Index^® (VIX) slipped to 20.72.
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• Diamondback Swaps Delaware Assets, Pays $238MM For TRP's Midland Assets
  Fresh off closing a blockbuster acquisition of Endeavor Energy...
  Fresh off closing a blockbuster acquisition of Endeavor Energy Resources, Diamondback Energy is getting deeper in the Midland Basin through an acreage trade with TRP Energy.
  
  On Nov. 3, Diamondback and TRP entered into an agreement under which Diamondback will trade certain Delaware Basin assets and pay $238 million in cash in exchange for TRP’s Midland Basin assets.
  
  TRP’s Midland assets include around 15,000 net acres in Upton and Reagan counties, Texas, and 55 remaining undeveloped operated locations, Diamondback said while announcing third-quarter earnings on Nov. 4. The deal also includes 18 DUCs.
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• Boeing machinists accept an offer, will return to work
  Fifty-nine percent of the rank-and-file members of the International...
  Fifty-nine percent of the rank-and-file members of the International Association of Machinists at Boeing’s West Coast factories voted yes to the struggling plane company’s third contract offer, which will provide them with a 43% pay increase over the next four years. They will also get a ratification bonus of $12,000, but they won’t get the traditional pension plan they fought for. However, union leaders had urged the membership to vote yes on the offer and “lock in these gains and work to build more in future negotiations.” The Anderson Economic Group estimated that the workers lost $600 million in wages while striking, and Boeing lost $6.5 billion through the end of last week. The biggest loser was the US economy, which shed $11.5 billion due to the strike. The union members will return to work tomorrow.
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• ☕️What Else is Brewing Election Day Morning
  Exploding packages bound for North America traced back to Russia. In...
  Exploding packages bound for North America traced back to Russia. In July, two “incendiary devices” caught fire at DHL facilities in Leipzig, Germany, and Birmingham, UK, respectively. European investigators just revealed that the packages contained electric massagers “implanted with a magnesium-based flammable substance,” according to the Wall Street Journal, which were sent from Lithuania. Officials say the packages were sent by a proxy for Russian spies and that they were part of a broader plot to test whether dangerous packages could infiltrate the US and Canada. When asked for comment by the Wall Street Journal, Kremlin spokesperson Dmitry Peskov called the story “traditional unsubstantiated insinuations from the media.
  
  The treasurer of America PAC, through which Elon Musk is running his $1 million daily “lottery,” said in a hearing that the recipients “are not chosen by chance.” Regardless, a judge rejected the Philadelphia district attorney’s request to halt the contest.
  
  First-time homebuyers in 2024 had a median income of $97,000, and their median age was 38.
  
  ​​OpenAI and Jeff Bezos invested in Physical Intelligence, a robot startup with the aim of “bringing general-purpose AI into the physical world.”
  
  A former Ohio police officer was found guilty of the murder of Andre Hill in 2020.
  
  Colleges are charging “talent fees” and “athletic surcharges” on sports tickets and at concessions stands to help offset the pay college athletes now receive.
  
  
  
   
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