S&P 500, Dow Extend Rally to Six Days
US stocks closed higher on Tuesday, buoyed by reports that a major trade deal was nearing completion and corporate earnings.
The S&P 500 posted its strongest six-day rally since 2022, adding 0.6%, the Nasdaq rose 0.5%. The Dow Jones advanced 300 points, led by strong performances from companies like Honeywell (+5.4%) and Sherwin-Williams (+4.9%), which posted solid quarterly results.
General Motors fell 1.1%, after it cancelled its share buyback and pulled its outlook due to the possibility of tariffs while Amazon was little changed following clarifying it would not implement tariff surcharges. UPS lost 0.5% after reporting better-than-expected earnings and announced plans to cut 20,000 jobs.
On the data fronts, the U.S. trade deficit in goods reached a record high, while consumer confidence slipped, reflecting the growing economic challenges. Job openings in the US were at 7.19 million in March, lower than expected.
Source: Trading Economics
