Stocks slipped on Tuesday as investors digested the new fiscal stimulus bill from House lawmakers that calls for $2 trillion in relief funds alongside a rise in global and domestic coronavirus cases. Market participants are also cautious towards the outcome of Tuesday night's first presidential debates between President Donald Trump and Democratic challenger Joe Biden, as well as major upcoming U.S. economic data slated to release later this week. All three major market indices fell as investors looked for direction.

Meanwhile, the Conference Board's consumer confidence index jumped 15.5 points in September to 101.8, exceeding consensus economist estimates for a rise of 90.0. September's surge was far from August's upwardly revised reading of 86.3, highlighting consumer's more positive outlook as more businesses reopen. The index is now nearing pre-pandemic levels of about 130 throughout 2019.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.48% or -16.12 points to 3,335.48

Dow Jones Industrial Average (DIA  ): -0.48% or -131.33 points to 27,452.73

Nasdaq Composite Index (QQQ  ): -0.29% or -32.28 points to 11,085.25

For Major Stock News, reopening stocks were pressured once again by mounting coronavirus fears: American Airlines (AAL  ), Carnival Cruise (CCL  ), Delta Air Lines (DAL  ), Norwegian Cruise (NCLH  ), Royal Caribbean (RCL  ), Southwest (LUV  ), and United Airlines (UAL  ). JPMorgan (JPM  ) announced that it will pay $920 million to resolve multiple probes by the U.S. government over the bank's role in alleged manipulation of metal and treasury markets. Beyond Meat (BYND  ) shares soared after the plant-based food brand announced it will be expanding its distribution partnership with Walmart (WMT  ).

For Sector Performance, every industry slumped alongside the broader market expect Communication Services, which gained +0.28%. The performance declines were as follows: Energy -2.73%, Financials -1.15%, Industrials -0.89%, Consumer Discretionary -0.79%, Materials -0.72%, ConsumerStaples -0.62%, Real Estate -0.58%, Information Technology -0.30%, Health Care -0.08%, and Utilities -0.08%.

For Commodities and Currency, the U.S. Dollar (UUP  ) slipped on Tuesday after its multi-day winning streak as investors grew cautious towards the upcoming debates. The dollar index declined 0.3% against other rival currencies. Gold (GLD  ) conversely rose to its highest level in a week on the back of the weak dollar and as further U.S. stimulus hopes gave to positive sentiment towards the yellow metal. Spot gold increased 0.5% to $1,889.85 per ounce, while futures settled 0.7% higher at $1,895.70 per ounce. Crude oil futures slipped over 3% as increased coronavirus cases in Europe and the U.S. threatened future demand. Brent Crude's (BNO  ) November contracts fell 3.8% to $40.83 per barrel, while its more active December contracts dropped 3.6% to $41.33 per barrel. Meanwhile, West Texas Intermediate (USO  ) fell 3.2% lower to settle at $39.29 per barrel.

For the mid-week, the market may react accordingly if there is a clear winning to Tuesday night's debates. ADP September employment report is also scheduled to debut.