The Trump administration abruptly offered China - and U.S. consumers - a reprieve from sweeping tariffs that were poised to hit on September 1st, sending stocks sharply higher and raising hopes for reviving talks on a trade deal.
The Dow rose 1.4 percent, the S&P 500 added 1-and-a-half percent and the Nasdaq Composite added 2-percent.
Korean shares ended lower on Tuesday as a drop in U.S. yield curve fuelled demand for safe-haven bets, adding pressure on the market, already hit by China-U.S. trade war and Japan's export curbs.
The benchmark KOSPI ended down nine-tenths of a percent while the tech-heavy KOSDAQ
Oil prices were trading up on Tuesday prior to the American Petroleum Institute's estimate of a surprise crude oil inventory build of 3.7 million barrels for the week compared to analyst expectations of a 2.7 million barrel draw.
By 5 pm eastern, WTI had started to slip, but still trading up on the day at 56-dollars-and 94 cents while Brent traded up as well at $61.15.