US stocks close higher, Dow rises 300 points

US stocks closed higher on Tuesday, amid anticipations of Trump announcements for an executive order on lessening tariff burdens on auto companies, in addition to the confirmation of US Commerce Secretary Howard Lutnick about a trade agreement with an unnamed country, without disclosing any further details.

The Dow Jones Industrial Average rose by 0.75%, or 300 points, to 40,527 points at the close of the session.

The S&P 500 increased 0.58% to 5,560 points; likewise the Nasdaq Composite edged up by 0.55% to 17,461 points.

Despite the favorable developments pertaining to tariffs imposed on the automotive segment, General Motors’ stock retreated 0.64% to $46.94 on the company’s announcement of reassessment of its earnings forecasts and the suspension of buybacks.

The Netflix stock leapt 1.37% to $1,125.64, extending its winning streak over eight consecutive sessions, thanks to the company's better-than-expected financial performance in the first quarter.

The Stoxx Europe 600 index gained 0.36% to 525 points, led by gains in the utilities and healthcare sectors.

The UK’s FTSE 100 increased 0.55% to 8,463, and Germany’s DAX rose 0.69% to 22,425. While France’s CAC 40 declined 0.24% to 7,555.

The Tokyo Stock Exchange was closed for a public holiday after the Nikkei index ended Monday's trading up 0.40% to 35,839 points, and the broader Topix index rose 0.85% to 2,650 points.

Brent crude futures for July delivery, the most actively traded contract, fell by 2.4%, or $1.61, to settle at $64.25 per barrel.

Moreover, US WTI crude futures for June delivery declined by 2.6%, or 1.63 cents, to $60.42 per barrel.

As for gold, June futures for the yellow metal inched down by 0.4% to close at $3,333.60 per ounce.