The market is eagerly waiting for a deal from Congress.

Topline: The stock market rallied on Tuesday morning, opening higher amid renewed optimism that Congress can finally reach an agreement on a $2 trillion fiscal stimulus bill to cushion the economic fallout from the coronavirus pandemic.

Key background: The market is having its worst month since 1931, falling up to 35% over the last four weeks. That decline, in such a short period of time, is the steepest drop since the Great Depression, according to Bespoke Investment Group. During trading on Monday, stocks slumped after Congress again failed to pass the $2 trillion coronavirus relief package. Both the Dow and S&P 500 hit their lowest levels since December 2016.

What to watch for: House Speaker Nancy Pelosi on Monday introduced a separate, $2.5 trillion economic response bill to deal with the coronavirussince the one currently being negotiated initially excluded Democrats. This version of the stimulus bill aims to send $1,500 to individual Americans and provides additional funds for measures like unemployment insurance. Pelosi said it takes responsibility for the health, wages and well-being of Americas workers.

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Stocks Rally 9% As Wall Street Hopes For Progress On Coronavirus Stimulus Bill - Forbes