US stock futures rise following Election Day gains

US stock futures rose in after-hours trading Tuesday ahead of election night results.

Dow futures were up 252 points, or 0.9%. S&P 500 futures climbed nearly 0.9% and Nasdaq futures gained 0.5%.

The futures rise follows strong gains for US stocks on Election Day.

The Dow closed Tuesday up 555 points, or 2.1%, higher, its best percentage gain since mid-July. The S&P 500 closed 1.8% higher, its best day in a month. The Nasdaq Composite finished 1.9% higher — its best performance since mid-October.

Hopes for more government spending to help the economic recovery in the near-term boosted markets and riskier investments like stocks. The gains also reflected Wall Street’s bet that former Vice President Joe Biden will win the election.

Analysts at Goldman Sachs said Tuesday there’s a good chance the winner will be declared Tuesday night because swing states like Florida, Arizona, Georgia and North Carolina will report results quickly. That certainty would also likely be a boost to markets.

Looking ahead, Wendy’s, Allstate and Hilton report earnings on Wednesday.

— CNN’s Anneken Tappe contributed to this report.