US STOCKS-Wall Street shares end higher on stimulus optimism

* Pelosi hopes for progress on stimulus deal by end of week
* P&G gains after full-year sales forecast raise
* Netflix shares ease after results
* U.S. DOJ, 11 states file anti-trust lawsuit vs Google
* Dow closes up 0.4%, S&P 500 up 0.47%, Nasdaq up 0.33%

(Adds latest Pelosi comments, Netflix prices in extended
trading)
By Gertrude Chavez-Dreyfuss
NEW YORK, Oct 20 (Reuters) - Wall Street shares closed
higher Tuesday on growing optimism that U.S. lawmakers are
nearing a deal on a stimulus package aimed at cushioning the
economic shock from the coronavirus pandemic.
House of Representatives Speaker Nancy Pelosi said late on
Tuesday that she hoped a coronavirus aid agreement could be
accomplished by the end of this week. Pelosi spoke with Treasury Secretary Steven Mnuchin on the
stimulus deal.
"I think no matter who gets elected, we will get the
stimulus," said Brian Reynolds, chief market strategist, at
Reynolds Strategy.
"The current headlines are short term in nature. Eventually,
they would get together and produce more stimulus for the
economy because all the sectors that are lagging need it badly,"
he added.
Uncertainty over the coronavirus aid package weighed on Wall
Street's main indexes on Monday and analysts expect market
turbulence to increase with only two weeks left until Election
Day.
The Dow Jones Industrial Average .DJI closed up 113.37
points, or 0.4%, to 28,308.79, the S&P 500 .SPX ended 16.2
points higher, or 0.47%, to 3,443.12 and the Nasdaq Composite
.IXIC closed 37.51 points higher, or 0.33%, to 11,516.49.
A majority of the S&P sectors was up, with financials
.SPNY , industrials .SPLRCI and consumer discretionary
.SPLRCD stocks underpinning gains.
The U.S. Justice Department and 11 states, meanwhile, filed
an antitrust lawsuit against Alphabet Inc's GOOGL.O Google for
allegedly breaking the law in using its market power to fend off
rivals. Alphabet's shares closed up 1.4%. "It's like locking the proverbial door after the horse has
bolted," said Neil Campling, head of TMT research at Mirabaud
Securities in London.
"Google has already got the monopolistic position, has
invested billions in infrastructure, AI, technologies, software,
engineering and talent. You can't simply unwind a decade of
significant progress, or create new alternative powerhouses or
tech ecosystems out of thin air."
Meanwhile, the third-quarter earnings season has gathered
momentum. Of the 66 S&P 500 companies that have reported
results, 86.4% have topped expectations for earnings, according
to Refinitiv IBES data.
Property and casualty insurer Travelers Cos Inc TRV.N
gained 5.6% as it beat quarterly profit expectations, while
consumer products giant Procter & Gamble Co PG.N advanced 0.4%
as it raised its full-year sales and earnings forecasts.
After the bell, Netflix Inc NFLX.O fell nearly 6% after
reporting results that missed expectations for paid subscriber
additions in the third quarter, hit by rising streaming
competition and the return of live sports to television.
International Business Machines Corp IBM.N edged past
estimates for quarterly revenue on Monday, bolstered by higher
demand for its cloud services. The company's shares, however,
fell after it stayed away from issuing a current-quarter
outlook, citing economic uncertainty related to the pandemic.
Advancing issues outnumbered declining ones on the NYSE by a
2.13-to-1 ratio; on Nasdaq, a 1.16-to-1 ratio favored advancers.
The S&P 500 posted 25 new 52-week highs and 1 new lows; the
Nasdaq Composite recorded 69 new highs and 29 new lows.