U.S. stocks rallied as voters headed to the polls on the last day of the presidential election and as more data piled up to show the economy remains solid

Amazon led U.S. stock indexes higher, while a surprisingly weak jobs report marred by some unusual occurrences cemented bets on Wall Street for another cut to interest rates next week.

Wall Street has a poor track record when it comes to forecasting the future performance of the stock market. Since 2020, there has been a 17-percentage-point discrepancy between analysts' median year-end forecast for the S&P 500 and where the index actually finished each year, according to Goldman Sachs.