Stock markets hold on to gains on U.S. election day

North American stock markets racked up some modest gains on a historic election day in the United States.

Indices on Wall Street finished in positive territory for a second straight day with the Dow Jones industrial average advancing by 73.14 points to 18,332.74, following a substantial 371-point gain on Monday.

The broader S&P 500 index moved up 8.04 points to 2,139.56, while the Nasdaq composite climbed 27.32 points at 5,193.49 points.

The gains were attributed to investors viewing Democrat Hillary Clinton as more likely to win the presidency over her rival Republican Donald Trump, after the FBI announced it found no evidence for criminal charges related to a recent probe into her private email server.

In Toronto, the S&P/TSX composite index was nearly flat, up 4.39 points at 14,656.84.

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The Canadian dollar was at 75.16 cents US, up 0.38 of a U.S. cent while bellwether commodity prices were mixed.

Meanwhile, the Mexican peso climbed almost 1.4 per cent on Tuesday to 18.32 per U.S. dollar, its highest level since Sept. 8, on bets that Clinton will defeat Trump, Reuters reported.

The December crude contract advanced nine cents to $44.98 US per barrel and December natural gas was down 18 cents at $2.63 US per mmBTU.

The December gold contract faded $4.90 to US$1,274.50 an ounce and December copper contracts were up seven cents at US$2.38 a pound.