US stocks surged on Tuesday, with the Dow Jones Industrial Average climbing over 360 points as investor sentiment improved on renewed hopes of a breakthrough in international trade negotiations.
A wave of optimism swept Wall Street after key officials in the Trump administration signaled that a major trade deal was nearly finalized, bolstering market momentum ahead of crucial tech earnings this week.
The Dow jumped 364 points, or nearly 1%, to lead gains among major indexes.
The S&P 500 advanced 0.7%, marking its sixth consecutive winning session—its longest streak since February.
The Nasdaq Composite added 0.6%, buoyed by a recovery in tech shares that had dipped earlier in the day.
Trump officials signal progress on global trade deals
Markets had traded mostly flat during the early hours of the session but reversed course sharply in the afternoon after Commerce Secretary Howard Lutnick told CNBC, “I have a deal done, done, done, done, but I need to wait for their prime minister and their parliament to give its approval, which I expect shortly.”
Lutnick declined to name the country but hinted that the agreement was close to finalization.
Later in the day, President Donald Trump added to the optimism, stating that the US was making strong progress in tariff negotiations with India.
“I think we’ll have a deal with India,” Trump said outside the White House.
He referenced Indian Prime Minister Narendra Modi’s recent visit to Washington, emphasizing both nations’ desire to finalize a bilateral trade agreement.
Treasury Secretary Scott Bessent further confirmed that the US was “very close” to a deal with India and noted ongoing discussions with Japan and South Korea, fueling broader expectations of de-escalating trade tensions across Asia.
Earnings season heats up, Big Tech in focus
Investors are also closely watching corporate earnings, with roughly one-third of S&P 500 companies scheduled to report this week.
The spotlight is on Big Tech, with Meta Platforms and Microsoft set to report Wednesday, followed by Apple and Amazon on Thursday.
Shares of Amazon briefly dipped earlier in the session after White House press secretary Karoline Leavitt criticized the company’s rumored plan to display tariff surcharges on its Amazon Haul platform, calling it a “hostile and political act.”
However, Amazon later clarified that it had no such plan, helping its stock recover by the end of trading.
Meanwhile, General Motors, one of the companies most affected by trade disputes, saw its shares recover from earlier losses after announcing it would suspend share buybacks and reassess its forward guidance until it gains more clarity on tariff impacts.
Honeywell outperforms after strong results
Honeywell shares surged 5% after the company reported better-than-expected quarterly earnings, driven by strong performance in its aerospace and building technologies divisions.
The positive results gave an additional boost to the Dow.
As markets digest progress on trade deals and brace for high-impact earnings from tech giants, volatility may remain elevated.
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