Wall Street staged a huge rally during Monday's session, with the Dow Jones and S&P 500 posting their best trading day in over a month. Investors traded with positive news surrounding Moderna's (MRNA  ) potential coronavirus vaccine, more states including California and New York moving forward with economic reopening, and positive comments from Federal Reserve Chairman Jerome Powell in an interview on Sunday.

Powell stated in a "60 Minutes" interview that "theres a lot more [the Federal Reserve] can do" to help the economy. On Monday, Moderna reported positive phase one results for its potential coronavirus vaccine, with the biotech stating that early participants had developed antibodies after two doses.

Here's how the market settled on Monday:

S&P 500 Index (SPY  ): +3.15% or +90.21 points to 2,953.91

Dow Jones Industrial Average (DIA  ): +3.85% or +911.95 points to 24,597.37

Nasdaq Composite Index (QQQ  ): +2.44% or +220.27 points to 9,234.83

In Major Stock News, investment banks--Bank of America (BAC  ), Citigroup (C  ), Goldman Sachs (GS  ), JP Morgan (JPM  ), Morgan Stanley (MS  ) and Wells Fargo (WFC  )--and airlines--American (AAL  ), Delta (DAL  ), Southwest (LUV  ) and United (UAL  )--all rallied as market participants hoped for more federal aid for the economy recover from the coronavirus impact. Disney (DIS  ) also soared after the entertainment company announced that it will partially reopen its Springs Resort in Florida starting Wednesday. Uber (UBER  ) also made headlines on Monday after the ride-hailing company announced that it will cut an up to an additional 3,000 jobs to weather the coronavirus. The recent job cut comes just two weeks since the company furloughed 3,700 positions and disclosed plans to save more than $1 billion in fixed costs.

In Stock Sector News, all sectors rallied with the broader market during Monday's session. The performance gains were as follows: Energy +7.55%, Industrials +6.61%, Financials +5.32%, Real Estate +4.93%, Materials +4.56%, Utilities +4.14%, Consumer Discretionary +3.20%, Information Technology +2.56%, Communication Services +2.15%, Consumer Staples +1.66% and Health Care +0.94%.

In Commodity and Currency News, June contracts for crude increased on Monday as U.S. shale cuts were deeper and faster than expected. West Texas Intermediate (USO  ) increased about 5% to price around $33 per barrel and Brent Crude (BNO  ) soared over 7% to cost about $35 per barrel. Gold (GLD  ) declined -1.29% in response to the market optimism and the U.S. Dollar (UUP  ) also dropped over -0.70%.

As Wall Street moves into Tuesday, investors will focus on Treasury Secretary Steven Mnuchin and Powell's testimony before Congress as well as corporate quarterly earnings from companies like Home Depot (HD  ) and Walmart (WMT  ).