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US stocks ended higher Tuesday after Commerce Secretary Howard Lutnick said a trade agreement has been reached with one country but he is awaiting approval for the announcement.

“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 told CNBC, adding that he would not disclose with which country the agreement was signed.

The S&P 500 jumped 0.58%, or 32.08 points, to close at 5,560.83.

The Nasdaq rose 0.55% to finish at 17,461.32 points while the Dow was up 0.75% to close at 40,527.62 points.

The positivity in averting a trade war due to possible trade deals fueled the rise in stocks.

It was also driven by news that US President Donald Trump will sign an executive order to dampen the effects of auto tariffs as he prepares to deliver remarks in the historical home of American auto manufacturing.

Spokesperson Karoline Leavitt did not provide details on what the order would include, but a senior Commerce Department official later told reporters that the order would include a 15% rebate for vehicle manufactures that finish automobiles in the US. That will be used to offset tariffs on imported vehicle parts.

"President Trump has had meetings with both domestic and foreign auto producers, and he's committed to bringing back auto production to the US. So, we want to give the automakers a pass to do that quickly, efficiently and create as many jobs as possible," Treasury Secretary Scott Bessent told reporters at a White House briefing.

On the macroeconomic data side, The US Consumer Confidence Index fell 7.9 points to 86 in April -- its lowest since August 2020.

The US trade balance posted a monthly deficit of $161.99 billion in March, reaching an all-time high.

Job openings in the US hit 7.192 million in March, below estimates,

The VIX Index, also known as the “fear index," dropped 3.9% to 24.17.