US stocks climbed on Wednesday after the US struck a trade deal with Japan, lifting hopes for further tariff pacts as Wall Street got ready for Tesla (TSLA) and Alphabet (GOOGL, GOOG) earnings. The Dow Jones Industrial Average (^DJI) rose more than 1%,

Stock futures are higher Wednesday as investors welcome news that the U.S. reached a trade agreement with Japan and prepare for the release of quarterly results from major technology companies.

Stocks found support from afternoon news reports that the U.S. and the EU are working toward a deal that would set a 15% tariff on most imports. Earlier, Bloomberg reported that the EU may hit U.S. goods with a 30% levy if no agreement is reached before an Aug. 1 deadline set by President Donald Trump.