Stocks traded higher throughout Tuesday's session as investors were encouraged by positive remarks from House Speaker Nancy Pelosi towards fiscal stimulus progress ahead of the U.S. presidential election on Nov. 3. Moderna (MRNA  ) also injected more optimism into the market after its Chief Executive told the Wall Street Journal that the biotech's potential coronavirus vaccine could be available for emergency use by December, pending positive results for its interim trial in November.

Yet, there has been no tangible progress in Washington towards additional stimulus beyond positive talks. Senate Majority Leader Mitch McConnell gave a more modest take towards a fresh bill, with the Senator advising the White House to reject a large package. The Senate's new "skinny bill" proposal notably excludes another round of stimulus checks.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): +0.47% or +16.19 points to 3,443.11

Dow Jones Industrial Average (DIA  ): +0.40% or +113.37 points to 28,308.79

Nasdaq Composite Index (QQQ  ): +0.33% or +37.61 points to 11,516.49

For Major Stock News, 'reopening' names like airlines, cruises and department stores rose following the wave of stimulus optimism: American (AAL  ), Carnival (CCL  ), Delta (DAL  ), Kohl's (KSS  ), Nordstrom (JWN  ), Norwegian (NCLH  ), Royal Caribbean (RCL  ), Southwest (LUV  ) and United (UAL  ). Tech stocks advanced even after the U.S. Department of Justice filed an antitrust lawsuit against Alphabet's Google (GOOGL  ), accusing the firm of anticompetitive behaviors relating to its search engine; Amazon (AMZN  ), Apple (AAPL  ), Facebook (FB  ) and Microsoft (MSFT  ) all advanced. AMC Entertainment (AMC  ) shares sank after the company warned of a possible bankruptcy in a security filing related to its secondary stock offering. Proctor & Gamble (PG  ) rose following its better-than-expected earnings report, as the company posted that revenues rose 9% as the pandemic increased demand of household products.

For Sector Performance, cyclicals remained strong throughout Tuesday's session as most industries gained alongside the broader market. Financials (XLF  ), Consumer Discretionary (XLF  ) and Energy (XLE  ) were the biggest performance gainers as market participants bet on further coronavirus stimulus ahead of the the U.S. election. Consumer Staples (XLP  ) was the only sector to end the session with performance losses.

For Commodities and Currency, the U.S. Dollar (UUP  ) fell further on Tuesday, dropping to a one-month low against other major currencies as investors aimed to minimize risk ahead of stimulus talks and as coronavirus cases climbed in Europe. The dollar index declined for its second day in a row to 92.991. Gold (GLD  ) climbed slightly higher on stimulus optimism, with spot gold rising 0.4% to $1,912.71 per ounce and futures settling 0.2% higher to $1,915.40 per ounce. Crude oil futures also edged higher on positive stimulus sentiment, but demand was still pressured by coronavirus concerns and increased Libyan output. International benchmark Brent Crude (BNO  ) slightly rose to $42.82 per barrel, while West Texas Intermediate (USO  ) increased 1.54% to $41.46 per barrel.

For the mid-week, market participants await the final verdict on near-term stimulus. The Federal Reserve is also slated to release its Beige Book and companies like Tesla (TSLA  ) and Verizon (VZ  ) are set to report quarterly earnings.