US stocks rose for a third day as investors awaited midterm election results and monitored the crypto token selloff that wiped out more than 10% of bitcoin's price. The dollar fell in tandem with treasury yields.
The S&P 500 finished higher after earlier erasing gains of more than 1%. Bitcoin fell as the owner of the largest crypto exchange swooped in to buy a smaller rival that was experiencing liquidity issues. The yield on two-year treasuries, which are more sensitive to changes in Federal Reserve policy, fell 6 basis points, while the dollar index fell for the third day.
Walt Disney shares fell in postmarket trading after the company reported sales and profit that fell short of Wall Street expectations.
In the regular session, stocks rose as investors anticipated potential gridlock from midterm election results. Still, if races are as close as polls suggest and losers challenge results, the final outcome may not be known for days or even weeks.
