(CNBC) — Stocks rose on Tuesday as investors eagerly awaited the results of much-anticipated midterm elections which could have significant implications for investors.

The Dow Jones Industrial Average climbed 173.31 points to 25,635.01, led by gains in IBM and Caterpillar. The S&P 500 gained 0.6 percent to close at 2,755.45 as the industrials and materials sectors outperformed. The Nasdaq Composite advanced 0.6 percent to 7,375.96. All three of the major indexes reached their session highs less than 10 minutes before the close.

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