Stocks finished firmly ahead on a high-volume day Tuesday as the Trump administration hinted that a trade deal with one nation is done. The news comes as Amazon.com retreated slightly amid a dispute with the White House over tariff effects on the e-commerce giant. Meanwhile, Warren Buffett holding Coca-Cola got an earnings boost on the stock market today.
The Dow Jones Industrial Average led the charge, extending its rally to six days by climbing 0.8%, or 300 points. The S&P 500 added 0.6%, as the benchmark index moved further above the 5,500 level. It also notched a sixth consecutive rise.
Meanwhile, the Nasdaq picked up 0.6%. In small caps, the Russell 2000 finished 0.5% higher.
The Dow was the last to retake its 21-day exponential moving average — the 30-stock index closed above it Monday. All four indexes are trying to work their way back to their 50-day moving averages.
Volume was significantly higher on both the Nasdaq and New York Stock Exchange vs. Monday. On the Nasdaq exchange, rising stocks edged out falling issues by 3-to-2. Gainers on the NYSE beat losers by nearly 2-to-1.
The benchmark 10-year Treasury bond yield shed five basis points to 4.16%. Oil prices sank to $60.34 a barrel. Bitcoin bumped up to near $95,400.
3:33 p.m. ET
First Trade Deal Reportedly Done
Commerce Secretary Howard Lutnick told CNBC Tuesday that President Donald Trump's administration has reached its first trade deal, but he declined to name the nation involved.
"I have a deal — done, done, done," Lutnick said, adding that he was waiting for pact approval from the nation's prime minister and parliament before revealing the country's name. Lutnick said he expected an announcement to be released "shortly".
Meanwhile, Treasury Secretary Scott Bessent said the U.S. is very close to a trade deal with India and has had talks with Japan and is working on a deal South Korea.
In economic news, the Conference Board Consumer Confidence Survey fell to 86 in April vs. the 87.5 expected. Also, the Labor Department's March Job Openings and Labor Turnover Survey, or JOLTS, fell to 7.192 million vs. the 7.464 million forecast, lower than the revised 7.48 million in February.
Stock Market Today: Genetics Testing Stock In Buy Zone
IBD 50 name GeneDx Holdings advanced 4.3% and reached the 115.60 buy point of a consolidation pattern. The genetics testing stock is in the buy range up to 121.38. The stock holds a 98 Composite Rating.
GeneDx is expected to report first-quarter results Wednesday.
Stocks Rally As Lutnick Says Trade Deal 'Done'; Super Micro Dives Late
2:19 p.m. ET
Insurance Stock Breaks Out, Warren Buffett Holding Rises
Kingstone rallied nearly 7% and broke out of a late-stage consolidation with a 19.18 buy point. Shares are in the 5% buy zone up to 20.14.
The property and casualty insurance stock reached a level not seen since August 2018. Kingstone's relative strength line reached a 52-week high, as shown by the blue dot on its chart. The MarketSurge Growth 250 stock holds a 99 IBD Composite Rating. Kingstone is expected to report first-quarter results May 8.
Warren Buffett longtime holding Coca-Cola rose 1% after a slight beat on first-quarter profit estimates.
"At this time, the company expects the impact (of tariffs) to be manageable," the Dow Jones component said in its earnings release.
Shares have been volatile since flashing a sell signal in early April after a saucer-with-handle breakout failed. The beverage giant is now nearing the 73.22 handle entry.
Pfizer notched a 4% gain after the drugmaker topped first-quarter earnings expectations. Pfizer sees $4.5 billion of net cost savings by the end of this year and looks to pad its research and development spending by $500 million by the end of 2026.
12:25 p.m. ET
Amazon Retreats, Honeywell Lifts Dow
Amazon.com trimmed larger losses to 0.1% in midday action. White House Press Secretary Karoline Leavitt said Tuesday the e-commerce giant's reported plan to show how much tariffs have increased prices on its website amounted to "a hostile and political act" by Amazon. But Amazon responded by saying the plan "was never approved and not going to happen," according to CNBC.
Amazon stock tested its 21-day line seeking support. Amazon reports first-quarter earnings Thursday after the market close.
Honeywell International powered up more than 5% in heavy trading, following the industrial products maker's beat on first-quarter profit and revenue projections. Honeywell stock retook its 50-day line and bumped up to its 200-day moving average, finding resistance. The stock was among Tuesday's top gainers on the Dow.
Another Dow component, Sherwin-Williams, advanced more than 5% after the paint retailer reported a mixed first-quarter earnings report. Its profit topped views but sales fell short of estimates. Sherwin-Williams also maintained its full-year 2025 adjusted earnings outlook. It ranges from $11.65 to $12.05 per share.
SHW shares reclaimed their 50-day line on the stock market today.
10:52 a.m. ET
Stock Market Today: Spotify Stock Tumbles, Telehealth Name Spikes
Spotify Technologies plummeted more than 10% in heavy volume after missing first-quarter earnings and sales estimates with more subscribers than expected. Spotify undercut its 50-day line in a double-bottom base with a 621.20 buy point. The streaming music stock is on Investor's Business Daily's Leaderboard.
Hims & Hers Health soared roughly 19% in huge volume on news it will partner with Novo Nordisk on weight loss treatments. Novo Nordisk makes Wegovy and diabetes-treatment Ozempic. Patients will be able to receive the drugs this week with plans starting at $599 per month.
Hims stock retook its 50-day line, finding support. Shares have climbed around 48% so far this year.
Meanwhile, Novo Nordisk gained 3% and reclaimed its 21-day exponential moving average on the stock market today. But Novo stock has sorely underperformed as seen in its 9 IBD Relative Strength Rating. Shares have lost around 25% so far this year.
Shift4 Payments soared more than 10% after reporting higher-than-expected profit during the first quarter, with a miss on revenue estimates.
"I want to be clear in saying that recent political commentary and capital markets volatility have not translated into reduced consumer spending across our merchants," Shift4 Payments President Taylor Lauber said in a letter to shareholders.
The payment processing stock has been weak since its last earnings report in mid-February as reflected in its 46 RS Rating. Shares retook their 50-day line on the stock market today.
SoFi Technologies popped around 4% in heavy trading after the fintech provider topped first-quarter profit and revenue projections. It also raised its full-year 2025 earnings and sales outlook.
Shares have been climbing back from April lows and look to extend three straight weeks of gains. SoFi offers loans, mortgages, credit cards and banking services.
IBD Methodology Rules For Risk Management
Other Stock Movers: Restaurant Stock Tanks
Brinker International plummeted roughly 14% even though the restaurant operator reported fiscal third-quarter earnings and sales that beat analyst views. It also raised its fiscal 2025 profit and revenue forecast, but the stock got punished anyway. Brinker restaurant brands include Maggiano's and Chili's Grill & Bar.
Shares undercut their 50-day line within a cup base with a 192.22 buy point. The drop triggered a sell signal.
Brown & Brown plunged more than 7% in heavy volume after the property and casualty provider missed first-quarter earnings forecasts with in-line sales. Shares fell further below their 50-day line and tested their 200-day moving average.
General Motors fell more than 2% after topping first-quarter earnings and sales views but said its outlook for the remainder of the year was unreliable due to the tariff situation. President Trump is expected to announce lower auto tariffs Tuesday.
"We believe the future impacts of tariffs could be significant, so we are reassessing our guidance and look forward to sharing more when we have greater clarity," GM Chief Financial Officer Paul Jacobson said during a media call, according to CNBC.
The automaker also postponed its conference call to 8:30 a.m. ET Thursday and paused its stock repurchase program. GM stock dipped below its 50-day line.
Follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
