Stocks extended Monday's gains amid the final stretch of the long U.S. presidential election campaign cycle. Market participants weighed a host of possible election outcomes as the coronavirus pandemic and pending economic recovery continue to remain on the forefront of risk assessments. Investors are hoping for a clear winner from Tuesday night's ballot counts, which will help ease uncertainty that could arise from a potential delayed or contested result.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): +1.78% or +58.92 points to 3,369.16

Dow Jones Industrial Average (DIA  ): +2.06% or +554.98 points to 27,480.03

Nasdaq Composite Index (QQQ  ): +1.85% or +202.96 points to 11,160.57

Walgreens Boots Alliance, JPM and GS all contributed to Dow's gains.

For Major Stock News, big banks gained momentum as the 10-year Treasury yield was up 4 basis points at 0.89% on Tuesday. JPMorgan Chase (JPM  ) and Goldman Sachs (GS  ) carried the Dow higher and the SPDR Bank ETF (KBE  ) rose nearly 3%. Alibaba (BABA  ) shares fell after China suspended the dual Shanghai and Hong Kong launch of Ant Group's record setting initial public offering; Alibaba owns roughly 33% of Ant Group. AMC Entertainment (AMC  ) shares surged higher despite the theater chain reporting a wider-than-expected quarterly earnings miss and a 90% revenue drop.

For Sector Performance, all but Energy (XLE  ) finished over over 1% higher. Energy slid near 0.8%, breaking a three-session winning streak despite crude future price gaining over 2% on Tuesday. Industrials (XLI  ) lead gains, followed by Financials (XLF  ) and Consumer Discretionary (XLY  ) increasing over 2%.

For Commodities and Currency, the U.S. Dollar (UUP  ) dipped as traders prepared for the outcome of the U.S. presidential election this week. The dollar index was down 0.6% against other global currencies at 93.61. The index reached a one-month high on Monday. Gold (GLD  ) prices rose on the falling dollar as investors viewed the yellow metal as a safe haven against possible volatility entering the market later in the week. Spot gold rose 0.7% to $1,907.96 per ounce, while gold futures settled 0.9% higher at $1,910.40 per ounce. Crude oil futures also rose over 2% despite coronavirus demand concerns as traders braced for volatility. International benchmark Brent Crude (BNO  ) gained 2.2% to $39.81 per barrel, while West Texas Intermediate (USO  ) settled 2.3% higher at $37.66 per barrel.

For the mid-week, traders will look for a clear winner of the U.S. presidential election. The ADP October employment report and Markit services PMI final reading for October are also slated to debut.