Dow extends longest win streak of 2025 as S&P 500, Nasdaq climb after latest tariff relief

US stocks swung between positive and negative territory on Tuesday but finished the trading day firmly in the green as investors fielded a rush of fresh earnings reports and digested a much-needed tariff reprieve for automakers.

The S&P 500 and tech-heavy Nasdaq Composite jumped about 0.6% and 0.5%, respectively. The Dow Jones Industrial Average climbed 0.8%, or just over 300 points, extending its longest win streak of 2025.

On Tuesday, President Trump signed an executive order to support automakers by preventing additional tariffs on foreign-made cars from being layered on top of the existing tariffs already imposed by the administration.

This means automakers paying Trump's auto tariffs on imports won't also be charged for other duties.

The latest tariff update sparked optimism for a further dial-down in trade tensions, after Trump's upbeat tone on trade negotiations, particularly with China, helped stocks climb back from sharp intra-session losses on Monday.

But Treasury Secretary Scott Bessent again on Tuesday put the onus on China, saying the tit-for-tat tariffs between the countries were not sustainable — for China. He also would not confirm whether Trump had spoken with Chinese President Xi Jinping.

Meanwhile, Amazon came under fresh scrutiny from the White House after reports that it would show tariff price increases in product price tags. The White House called the move a "hostile and political act." Shares fell, but recovered after Amazon denied the plans. The stock closed just below the flatline.