Dow Jones Industrial Average Today Gains After FBI Clears Hillary Clinton of Wrongdoing

The Dow Jones Industrial Average surged Monday after the Federal Bureau of Investigation cleared Democratic nominee Hillary Clinton (again) of any wrongdoing in regard to her private email server and new emails discovered on an aide's laptop. It was a huge day for the S&P 500, which snapped a nine-day losing streak. The CBOE Volatility Index (VIX) – typically known as the market's fear gauge – fell 15.9% to below 19.

Let's look at the final numbers Monday for the Dow, S&P 500, and Nasdaq:

Dow Jones: 18,259.74; 371.46; 2.08%

S&P 500: 2,131.52; 46.34; 2.22%

Nasdaq: 5,166.17; 119.80; 2.37%

Now, here's a look at today's most important market events and stocks, plus a preview of Tuesday's economic calendar.

DJIA Today: Markets Cheer James Comey's Letter to Congress Clearing Clinton

The Dow Jones surged 371 points after the FBI cleared Hillary Clinton in its latest email probe. In a letter to Congress, FBI Director James Comey said in a letter to Congress Sunday that the agency had "not changed its conclusions" that it reached in July about Clinton's intent to send sensitive government material across her private email server. Overall, risk appetite has increased with the announcement. Here's why.

Money Morning Chief Investment Strategist Keith Fitz-Gerald explains that many investors still think that Trump could win, which might propel a massive sell-off. But readers should have a bullish stance after the election. As Fitz-Gerald explains in this interview with FOX Business, opportunities are emerging and you can make a lot of profits following Tuesday's election.

SPECIAL: Millions could make a fortune on these 30 pot stocks come Nov. 8. Read more…

The price of crude oil increased on election news and optimism regarding OPEC's production deal. The secretary general of OPEC announced that the global oil cartel was committed to the global output deal signed by members in September. Concerns about the deal have accelerated in recent weeks due to geopolitical tensions between Saudi Arabia and demands for an exemption by the nation of Iraq. Despite OPEC's production cap, further cuts are likely needed to balance out supply and demand in global markets in 2017.

The WTI crude oil price today added 1.9%, while the Brent crude oil price gained 1.4%.

Must See: Get Our Bold 2017 Oil Price Forecast — Plus Today's Most Profitable Energy Play…

Of course, the big news today is the news of tomorrow. On Tuesday, voters will go to the polls to decide the 45th president of the United States. The markets largely anticipate that Americans will vote for Clinton. According to a CNBC Fed Survey released this morning, 46% of investors want Hillary Clinton to win, compared to 23% for Donald Trump. Most striking about the poll is that 14% of those taking the survey answered "Don't Know."

Top Stock Market News Today, Nov. 7, 2016

• In deal news, NetSuite Inc. (NYSE: N) stock surged more than 20% after shareholders voted to accept a $9.3 billion bid from Oracle Corp. (NYSE: ORCL). The announcement was surprising as it faced a mountain of opposition from its second-largest shareholder, Rowe Price Group Inc. (Nasdaq: TROW).
• That wasn't the only big deal to happen Monday. Shares of Blue Nile Inc. (Nasdaq: NILE) rallied more than 33% on news that it would be taken private by Bain Capital and Bow Street. The company sold itself for $500 million in cash. That translates to $40.75 a share, a 34% premium based on Blue Nile's closing price Friday.
• In earnings news, LendingClub Corp. (NYSE: LC) surged more than 13% after the company topped Wall Street earnings expectations. The firm beat Wall Street revenue forecasts and reported a smaller quarterly loss than expected. The firm also boosted shareholder optimism after it reported that the National Bank of Canada plans to invest $1.3 billion in LendingClub's platform in 2017. With earnings also driving the markets in the fourth quarter, here's how you should play them ahead of the 2016 presidential election.
• After the bell, look for additional earnings reports from Priceline Group Inc. (Nasdaq: PCLN), MGM Resorts International (NYSE: MGM), News Corp. (Nasdaq: NWSA), Hertz Global Holdings (NYSE: HTZ), and Oasis Petroleum (NYSE: OAS).
• Finally, internet giant Alphabet Inc. (Nasdaq: GOOGL) made an under-the-radar investment in Snapchat, according to Business Insider. The investment came through its subsidiary, Google Capital. Snapchat has been subject to a round of bids from both Google and Facebook Inc. (Nasdaq: FB). However, it appears that the company is pushing forward to become its own independent public company. Here's our latest update on Snapchat and the timing of its expected initial public offering.

Tuesday's U.S. Economic Calendar (all times EST)

• NFIB Small Business Optimism Index at 6 a.m.
• Chicago Federal Reserve President Charles Evans Speaks at 7:45 a.m.
• Redbook at 8:55 a.m.
• JOLTS at 10 a.m.
• Four-Week Bill Auction at 11:30 a.m.
• 52-Week Bill Auction at 11:30 a.m.
• Chicago Federal Reserve President Charles Evans Speaks at 12:20 p.m.
• Three-Year Note Auction at 1 p.m.

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