(Bloomberg) -- U.S. stocks advanced as lawmakers negotiated the size of a potential spending bill to bolster the economic recovery. The dollar weakened.The S&P 500 rebounded from Monday’s selloff but traded off session highs. House Speaker Nancy Pelosi said differences were narrowing in stimulus negotiations, though the Republican-controlled Senate remains opposed to her offer. Tech shares underperformed after the U.S. Justice Department said it was poised to sue Google for allegedly abusing its power. Parent Alphabet Inc.’s shares edged higher. Procter & Gamble shares rose on the best organic sales growth since 2005. Netflix Inc. reports after the market closes.In Europe, UBS rose with banking stocks after the Swiss firm’s traders performed better than most of their Wall Street rivals in the third quarter. Tech shares were among the biggest decliners. The region’s government bonds fell with Treasuries.A rally built on stimulus hopes has investors weighing up Pelosi’s deadline of striking a deal today against speculation that the looming election will prove too much of a hurdle to overcome. Yet with Federal Reserve policy makers urging for more fiscal support to complement unprecedented monetary aid, many in the market may be willing to let the deadline come and go.“The behavior of markets is reflecting optimism that there’s going to be big stimulus by January,” said John Normand, head of cross-asset fundamental strategy at JPMorgan Chase & Co. “I don’t think it’s necessarily a faith that Pelosi and Mnuchin and McConnell will agree to anything substantive by Pelosi’s deadline of today. It’s more of a look-through dynamic.”Leaders in Europe intensified efforts to slow contagion, reviving lockdowns in some areas after piecemeal curbs made little impact on a disease that has infected 4.9 million people regionally. New cases in Germany and Bulgaria hit a record,Meanwhile, global coronavirus cases exceeded 40 million, with the pandemic showing no signs of slowing. In the U.S., surges in Wisconsin and other battleground states pose a challenge for President Donald Trump two weeks before he stands for re-election.Here are some key events this week:Brexit trade talks are likely to continue at least into next week if the U.K. and EU fail to reach an agreement.The final presidential debate before the U.S. election, between President Donald Trump and former Vice President Joe Biden, will be live from Nashville, Tennessee on Thursday.Here are some of the main market moves:StocksThe S&P 500 Index gained 0.3% as of 11:07 a.m. New York time.The Nasdaq 100 Index was little changed.The Stoxx Europe 600 Index decreased 0.1%.The MSCI Asia Pacific Index dipped 0.3%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.1%.The British pound decreased 0.2% to $1.2918.The Japanese yen weakened 0.3% to 105.70 per dollar.The Australian dollar declined 0.6% to $0.703.BondsThe yield on 10-year Treasuries increased two basis points to 0.79%.Germany’s 10-year yield increased two basis points to -0.61%.Britain’s 10-year yield increased two basis points to 0.185%.Italy’s 10-year yield gained three basis points to 0.754%.CommoditiesWest Texas Intermediate crude fell 0.6% to $40.60 a barrel.Gold was little changed at $1,905 an ounce.LME aluminum decreased 0.3% to $1,848 per metric ton.Natural gas gained 4.1% to $2.91 per mmbtu.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.