Stocks jumped during Monday's session as investors turned positive towards the next round of quarterly corporate earnings that are expected to show improvements compared to earlier this year. Tech shares also elevated the broader market, even as coronavirus stimulus expectations dimmed.

Additional stimulus from Washington remains a point of focus amongst market participants as many economists warn that further recovery depends on it. However, the passage of a new fiscal package before the U.S. presidential election in early November seems unlikely as both House Speaker Nancy Pelosi and Senate Republicans both reject the $1.8 trillion offer from the White House made over the weekend. While Pelosi and Treasury Secretary Steven Mnuchin are expected to continue negations to reach a new deal, little progress has been made over the last several months since the passage of the CARES Act.

Here's how the market settled to start the week:

S&P 500 Index (SPY  ): +1.64% or +56.99 points to 3,534.12

Dow Jones Industrial Average (DIA  ) +0.88% or +250.62 points to 28,837.52

Nasdaq Composite Index (QQQ  ): +2.56% or +296.32 points to 11,876.26

For Major Stock News, Apple (AAPL  ) shares jumped, lifting up other tech giants, as investors turned bullish toward's the tech company's iPhone event on Tuesday; Apple shares historically outperform the broader market following the launch of new iPhone models. Shares of Amazon (AMZN  ), Alphabet (GOOGL  ) and Facebook (FB  ) gained. Twitter (TWTR  ) shares rose after Deutsche Bank upgraded the social media stock to Buy from Hold. Twilio (TWLO  ) shares popped over 7% after the cloud communications company announced it was buying Segment for $3.2 billion in stock.

For Sector Performance, all industries expect Materials, which declined -0.15%, advanced with Monday's broader market gains. The positive performance gains were as follows: Information Technology +2.72%, Communication Services +2.42%, Consumer Discretionary +2.15%, Consumer Staples +1.18%, Financials +1.14%, Utilities +0.68%, Health Cares +0.67%, Industrials +0.58%, Real Estate +0.49% and Energy +0.31%.

For Commodities and Currency, the U.S. Dollar (UUP  ) fell to three-week lows on Monday as optimism towards the possibility of a new coronavirus relief bill was dimmed. The greenback has maintained within a range of about 2% over the past few weeks as Congress and the White House continue to go back and forth over the issue of additional fiscal stimulus. For Monday, the dollar index fell 0.1% against other global currencies. Gold (GLD  ) price also fell as negative outlook towards additional stimulus harmed the appeal of the yellow metal, which is usually used to hedge against inflation. Spot gold slipped 0.3% to $1,923.56 per ounce, while gold futures settled up 0.1% to $1,928.90. Crude oil futures fell nearly 3% as multiple oil producers began to restore their outputs, ushering in a new wave of demand concerns. International benchmark Brent Crude (BNO  ) dipped 2.8% to $41.64 per barrel, while West Texas Intermediate (USO  ) dropped 2.88% to $39.43 per barrel.

For Tuesday, investors will focus on the start to the third quarter earnings season, with JPMorgan (JPM  ), Citigroup (C  ) and Delta Air Lines (DAL  ) set to release their latest quarterly result.