US benchmark equity indexes were on track to close higher Tuesday as markets awaited results of the presidential election.

The Nasdaq Composite was up 1.4% at 18,431.8, while the S&P 500 rose 1.1% to 5,776.5. The Dow Jones Industrial Average advanced 0.9% to 42,174.2. All sectors were gaining, led by consumer discretionary and industrials.

Americans are voting to pick the country's next president, with Democratic Party nominee, Vice President Kamala Harris, competing with Republican Party nominee, former President Donald Trump.

Wall Street will be watching key swing states, with the market likely to wobble through uncertainty until a clear result is known, according to analysts. It could take several days before the outcome of the vote is known, analysts said.

"The US presidential election likely will be decided by a few thousand voters across a handful of swing states," Wells Fargo Investment Institute said.

The US two-year yield was up 1.4 basis points at 4.19%, while the 10-year rate lost three basis points to 4.28%.

Microchip Technology (MCHP), Devon Energy (DVN) and Frontier Communications Parent (FYBR) are among the companies scheduled to report their latest quarterly financial results after the closing bell.

West Texas Intermediate crude oil rose 0.9% to $72.12 a barrel.