After a nine-day losing streak, U.S. stocks surged Monday as the FBI found no evidence to charge Hillary Clinton after reviewing a fresh batch of emails tied to the Democratic presidential candidate. The Dow Jones Industrial Average rose 200 points, as investors priced in a Clinton victory in Tuesday's critical U.S. presidential election, which is seen as a safer outcome for stocks.
In other news, Sotheby's (BID) posted an adjusted diluted loss of 78 cents a share for its third quarter. Analysts were expecting a loss of 62 cents. The auction house pointed to seasonal headwinds and acquisition charges as reasons for the loss. Revenue of $91.5 million topped estimates of $82.9 million.
MGM Resorts (MGM) shares were on the rise after beating Wall Street's profit and sales estimates for its third quarter. Profit came in at 93 cents a share, compared to 12 cents a share during the same quarter last year. Revenue of $1.9 billion rose 16% year-over-year amid strength in its Las Vegas properties.
TheStreet's Scott Gamm reports from Wall Street.
