Dow in big gains at midday

The Dow Jones Industrial Average was up another 74.1 points, 0.6 percent, to 12,179.7 at midday on Tuesday after its 119-point gain on Monday. The Nasdaq Composite was also up, by 0.8 percent to 2,385.8, while the S&P 500 had added 0.45 percent to 1,385.97. The gains came as US voters went to the polls in mid-term elections.

In the telecommunications sector, Verizon was 0.2 percent higher to $37.06 on the news that it is discussing a deal with YouTube, which was recently purchased by Google, to offer YouTube’s video clips on its cell phones.

In the automobile manufacturing sector, General Motors stood unchanged at $34.70 after it revised its third-quarter figures, showing a smaller loss than previously announced. GM said that instead of losing $115 million in the quarter, it lost $91 million. Meanwhile, US-traded shares of Toyota Motor Corp. added 1.7 percent to $121.75 after its fiscal second-quarter report showed net profits up 3.5 percent over the same period last year.

Semiconductors were higher, with the Philadelphia Semiconductor Index 2.5 percent higher to 468.86 and all but one of its component stocks up on the session. Altera led the charge, with a gain of nearly 6 percent to $19.50 on a third-quarter report that exceeded expectations.

Toll Brothers added 0.2 percent to $28.11 after early declines. It said that its revenue in its fiscal fourth quarter had declined by 10 percent, while its chief executive said that signs for a recovery in the sector are not yet visible.

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