The Dow Jones Industrial Average and the S&P 500 extended their winning streak to a sixth consecutive session as the earnings season kicked into high gear and investors kept an eye on trade policy developments.

The Dow ended 0.8% higher at 40,527.6, while the S&P 500 rose 0.6% to 5,560.8. The Nasdaq Composite climbed 0.6% to 17,461.3. Barring energy, all sectors were in the green, led by financials and materials.

US President Donald Trump signed an executive order to exempt automobiles from separate tariffs such as those on aluminum and steel or those imposed on Canada and Mexico, Bloomberg News and The Wall Street Journal reported. Earlier in the day, the White House confirmed that a relaxation for the auto industry was on its way.

Trump said Tuesday that trade talks with India were "coming along great," CNBC reported.

In company news, Honeywell International (HON) tweaked its full-year outlook because of uncertain global demand, though the industrial conglomerate said murky views didn't weigh on first-quarter results, which topped market expectations. The company's shares jumped 5.4%, the best performer on the Dow and among the biggest gainers on the S&P 500.

Sherwin-Williams (SHW) shares rose 4.8%, the second best performer on the Dow. The company maintained its full-year adjusted earnings outlook after delivering a quarterly beat on the bottom-line.

NXP Semiconductors' (NXPI) US-listed shares slumped 6.9%, the biggest drop on the S&P 500. The Dutch chipmaker said late Monday that it's navigating a "very uncertain" environment due to tariffs despite reporting better-than-expected first-quarter results. The company's chief executive, Kurt Sievers, announced his retirement.

Spotify Technology (SPOT) outlined a downbeat second-quarter revenue guidance Tuesday after its first-quarter top- and bottom-line results fell short of Wall Street's views. The audio streaming company's US-listed shares were fell 3.5%.

Pfizer (PFE) was up 3.2%. The pharmaceutical giant's first-quarter earnings unexpectedly increased year on year, while it reiterated its full-year outlook.

US Treasury yields eased, with the 10-year rate falling 4.5 basis points to 4.17% and the two-year rate dropping 2.7 basis points to 3.66%.

In economic news, US consumer confidence declined in April by more than the Street's projections, extending the downward trend to a fifth straight month as expectations plunged to a 13-year low amid concerns related to tariffs, the Conference Board reported.

"Expectations about future income prospects turned clearly negative for the first time in five years, suggesting that concerns about the economy have now spread to consumers worrying about their own personal situations," said Stephanie Guichard, senior economist of global indicators at the Conference Board.

US job openings and layoffs fell in March, government data showed Tuesday, ahead of a key employment report that will offer fresh details around the state of the labor market.

Official data are expected to show Friday that the US economy added 129,000 nonfarm jobs in April, which would mark a drop from a 228,000 increase reported for last month, according to a Bloomberg poll.

US home price growth slowed in February both sequentially and annually as demand softened, though tight supply continued to underpin home prices, S&P Global (SPGI) division S&P Dow Jones Indices said Tuesday.

West Texas Intermediate crude oil dropped 2.9% at $60.25 a barrel intraday. "Oil prices declined as tariff concerns dampened demand outlook," D.A. Davidson said in a client note.

Gold was down 0.5% at $3,332.20 per troy ounce, while silver gained 0.6% to $33.22 per ounce.