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“Tax reform retroactive to January of 2017 is very positive if that were to happen,” said Peter Cardillo, chief market economist at First Standard Financial.

“That would obviously give a boost to economic activity and corporate growth ahead,” he said.

Tuesday’s moves come after the S&P 500 and the Dow industrials logged their biggest one-day percentage gains in months on diminished anxieties about hurricanes, notably Hurricane Irma which hit Florida over the weekend, and tensions in the Korean Peninsula.

Read: This legendary value-investor is another stymied by expensive stocks Apple Inc.

“There will be some more volatility before the month is over, but I am not letting that bother me,” Pavlik said.

“I am seeing a [corporate] earnings environment that is supportive at these levels, but we will likely get these periods where people are worried abut valuations,” he said.

Read: Equifax lobbied for more lax regulations ahead of massive data breach At a hedge-fund conference, Delivering Alpha, in New York, Julian Robertson, chief executive of Tiger Management, on said he favored the so-called FAANG stocks, arguing that Apple, Facebook Inc.

A standard exclusion found in most private company directors and officers insurance policies precludes coverage for claims brought by one insured against another insured – the so-called Insured vs. The exclusion typically includes several coverage carve-backs preserving coverage for certain types of claims for which the exclusion would otherwise preclude coverage.

Check out: A live recap of Apple’s i Phone presentation The Dow Jones Industrial Average added 8.37 points, or 0.3%, to close at 2,496.48, notching its second record in as many days and its 32nd this year, led by a second straight day of gains for financials as the yield of the 10-year Treasury note climbed to finished up 22.02 points, or 0.3%, at 6,454.28, overcoming early session wobbles to book its 47th all-time high for the technology-laden index this year.

Market participants also are looking for further signs that fiscal-stimulus measures promised by President Donald Trump during his presidential campaign may still have a chance of coming to fruition on the heels of an interview with Treasury Secretary Steven Mnuchin on CNBC Tuesday morning at an investment conference in New York.

Check out: Market Watch’s coverage of Delivering Alpha Mnuchin said he hopes Republicans can get a tax overhaul through Congress by the end of the year, and offered that the administration was considering backdating tax reform to the start of 2017.

Insured exclusion in the company’s D&O insurance policy and therefore that there was no coverage under policy for the underlying claim.

The decision highlights the importance of the specific language used in the coverage carve-back.

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