**Stock Market Rallies Midday as Election Kicks Off**

As the election commences, the stock market shows significant midday gains. The S&P 500 has risen by 1%, while the Nasdaq Composite, which heavily features tech companies, has climbed 1.23%. The Dow Jones Industrial Average is up by 0.87%, and the Russell 2000 Index has increased by 1.1%.

One of the standout performers is Palantir, which joined the S&P 500 in September. The data-analytics firm's stock has skyrocketed by 195% year-to-date. The company experienced a 22% surge in shares following a strong third-quarter earnings report that surpassed expectations. Palantir reported earnings of 10 cents per share, outdoing analysts' forecasts of 9 cents, and their revenue reached $726 million, beating the $701 million estimate. Chief Executive Alex Karp attributed this robust performance to high demand for advanced artificial intelligence technologies.

Karp expressed confidence in the company’s trajectory, stating, "The growth of our business is accelerating, and our financial performance is exceeding expectations as we meet an unwavering demand for the most advanced artificial intelligence technologies from our U.S. government and commercial customers." Palantir has raised its fourth-quarter revenue forecast to between $767 million and $771 million, surpassing analysts' expectation of $741.4 million. For 2024, the company anticipates revenue to be within the range of $2.805 billion to $2.809 billion, indicating a 26% annual growth.

Trump Media also saw significant gains, with its shares jumping 15% as traders speculated that a second Trump presidency could boost the business of its social-media platform, Truth Social. The stock, primarily owned by former President Donald Trump, has nearly doubled year-to-date and has attracted considerable interest from retail investors. According to a recent NBC poll, Trump and Vice President Kamala Harris are tied at 49% voter support.

Silin Chen, who writes for TheStreet, reported on these developments. Chen has previous experience with the Financial Times and holds a Master's Degree from New York University's Business and Economic Reporting program.

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