US stock futures rise following Election Day gains

Dow (INDU)futures were up 207 points, or nearly 0.8%. S&P 500 (SPX) futures climbed 0.7% and Nasdaq (COMP) futures gained 0.5%.
The futures rise follows strong gains for US stocks on Election Day.

The Dow closed Tuesday up 555 points, or 2.1%, higher, its best percentage gain since mid-July. The S&P 500 closed 1.8% higher, its best day in a month. The Nasdaq Composite finished 1.9% higher — its best performance since mid-October.

Hopes for more government spending to help the economic recovery in the near-term boosted markets and riskier investments like stocks. The gains also reflected Wall Street’s bet that former Vice President Joe Biden will win the election.

Analysts at Goldman Sachs (GS) said Tuesday there’s a good chance the winner will be declared Tuesday night because swing states like Florida, Arizona, Georgia and North Carolina will report results quickly. That certainty would also likely be a boost to markets.
Looking ahead, Wendy’s (WEN), Allstate (ALL) and Hilton (HLT) report earnings on Wednesday.

— CNN’s Anneken Tappe contributed to this report.