U.S. stocks followed their global counterparts higher on Wednesday, and Treasury yields reversed their three-day slide after a trade deal between the United States and Japan, and a report of a similar deal with the European Union provided welcome signs of progress in President Donald Trump's multi-front tariff negotiations.

UK prime minister Keir Starmer hailed the deal as 'the biggest and most economically significant' agreement Britain has made since Brexit.

Wall Street struggled for direction on Tuesday as investors weighed signs of progress in U.S. trade talks and perused a spate of second-quarter company earnings, some of which showed a hit from President Donald Trump's tariff policies.