U.S. stocks closed higher on Tuesday, boosted by reports that a major trade deal is nearing completion and corporate earnings. The S&P 500 rose 0.58%, posting its sixth straight gain and marking its longest winning streak since November. The Dow Jones Industrial Average rose 300 points, or 0.75%, its best gain since July, while the Nasdaq Composite added 0.55%. Honeywell (+5.4%) and Sherwin-Williams (+4.9%) led the Dow after reporting strong quarterly results. General Motors fell 1.1%, after canceling its share buyback and withdrawing its outlook on possible tariffs while Amazon was little changed after clarifying that it would not impose additional tariffs. UPS fell 0.5% after reporting better-than-expected earnings and announcing plans to cut 20,000 jobs. In data, the U.S. goods trade deficit hit a record high, while consumer confidence slumped, reflecting the economy's growing challenges. US job openings hit 7.19 million in March, lower than expected.(Newsmaker23)
Source: Trading Economics
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