US stocks closed with gains on Tuesday amid the ongoing US presidential elections.

The Dow Jones industrial average rose 427.28 points, or 1.02%, to finish the day at 42,221.88.

The S&P 500 added 70.07 points, or 1.23%, to reach 5,782.76. The Nasdaq also increased 259.19 points, or 1.43%, to end at 18,439.17.

The VIX volatility index, referred to as the "fear index," fell 6.78% to 20.49.

The US dollar index slipped 0.45% to 103.42, while the EUR/USD exchange rate was stable.

Precious metals were in positive territory. Gold earned 0.27% to $2,743.99 per ounce and silver rose by 0.62% to $32.65 as of 1000 GMT.

Oil prices increased around 0.1%, with global benchmark Brent crude at $75.35.