The Globe and Mail reports in its Wednesday edition that U.S. and Canadian stocks closed higher on Tuesday after fluctuating amid corporate earnings and economic data. A Reuters dispatch to The Globe reports that the S&P/TSX Composite Index reached a near four-week high, buoyed by relief from the recent Canadian general election uncertainty. U.S. Treasury Secretary Scott Bessent predicts China could lose 10 million jobs quickly due to tariffs, but signalled progress on trade deals with Japan and India. President Donald Trump signed an order just before the closing bell on Tuesday that gives automakers building vehicles in the U.S. relief from part of his new 25-per-cent vehicle tariffs to allow them time to bring parts supply chains back home. The TSX ended up 75.89 points, or 0.3 per cent, at 24,874.48, its highest closing level since April 2. CIBC Capital Markets analyst Sid Mokhtari says, "It's more about the U.S. earnings that are coming out and we're also getting a bit of relief post the election in Canada." Prime Minister Mark Carney has pledged to boost the economy in a trade war with increased infrastructure spending. Shares of Magna International finished ahead $1.06 to close at $48.44 on Tuesday.