Stocks climbed higher Tuesday, even as investors grew concerned over the threat of new tariffs from President-elect Donald Trump. The Dow Jones Industrial Average rose over 100 points, while the S&P 500 Index and Nasdaq Composite added about 0.6% each.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): +0.57% or +34.26 points to 6,021.63

Dow Jones Industrial Average (DIA  ): +0.28% or +123.74 points to 44,860.31

Nasdaq Composite Index (QQQ  ): +0.63% or +119.46 points to 19,174.30

Moving Markets:

President-elect Donald Trump announced he would impose a 25% tariff on goods imported from Canada and Mexico into the United States on Monday, alongside an additional 10% tariff on all Chinese goods -- building on his previous proposal of imposing a tariff as high as 20% on all imports and a more than 60% charge on products from China.

"On January 20th, as one of my many first Executive Orders, I will sign all necessary to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States," Trump wrote in a Monday post on his social media platform Truth Social.

Elsewhere, the Biden Administration proposed making popular weight-loss drugs like Novo Nordisk's (NVO  ) Wegovy or Ozempic covered under Medicare or Medicaid, granting millions of Americans access to the revolutionary drugs.

On the Earnings Front:

Kohl's (KSS  ) shares came under pressure on Tuesday after the retailer reported weaker-than-expected third-quarter results and lowered its forward outlook. The results also following an announcement the day before that CEO Tom Kingsbury will be stepping down as of Jan. 15, to be replaced by Ashley Buchanan, current CEO of The Michaels Companies.

"Our third-quarter results did not meet our expectations, as sales remained soft in our apparel and footwear business," CEO Tom Kingsbury said in a statement.

Kohl's now expects full-year net sales to decrease be 7% to 8%, below its previous guidance for a decline between 4% and 6%. The company also forecasts for full-year earnings per share between $1.20 to $1.50, from its previous range of $1.75 to $2.25.

Zoom Communications (ZM  ) shares also dipped on Tuesday after the video software marker reported strong third-quarter results but issued lackluster forward guidance. During the quarter, the company reported an increase of 800 enterprise customers, bringing its total to 192,400.

For its current quarter, Zoom expects adjusted earnings per share between $1.29 to $1.30 on revenue in the range of $1.175 billion to $1.180 billion. For its full-year 2025, Zoom expects adjusted earnings per share of $5.41 to $5.43 on revenue between $4.656 billion to $4.661 billion.

Separately, the company announced its corporate name is changing to Zoom Communications from Zoom Video Communications, reflecting "our evolution into an AI-first work platform for human connection and our vision for long-term growth," CEO Eric Yuan told analysts during the company's earnings call.

Best Buy (BBY  ) reported disappointing third-quarter results on Tuesday, leading the electronics retailer to slash its full-year sales forecast as early holiday sales fail to increase consumer traffic. The company now expects full-year revenue between $41.1 billion to $41.5 billion, from its previous guidance of $41.3 billion to $41.9 billion. Best Buy also expects full-year comparable sales to fall between 2.5% and 3.5%, compared to its prior range of a 1.5% to 3% decrease.

"We attribute [softer-than-expected sales] to a combination of overall macro uncertainty, customers waiting for deals and sales and distraction during the run-up to the election, particularly in nonessential categories, [and] expected lower demand between sales events," CEO Corie Barry told analysts during the company's earnings call. "But the impact was even steeper than we estimated."

In Economic News:

Consumer Confidence rose in November, the Conference Board reported Tuesday, increasing 2.1 points month-over-month to 111.7.

"Consumer confidence continued to improve in November and reached the top of the range that has prevailed over the past two years," said Dana M. Peterson, chief economist at The Conference Board, in a statement. "November's increase was mainly driven by more positive consumer assessments of the present situation, particularly regarding the labor market. Compared to October, consumers were also substantially more optimistic about future job availability, which reached its highest level in almost three years. Meanwhile, consumers' expectations about future business conditions were unchanged and they were slightly less positive about future income."

New Home Sales fell in October as climbing mortgage rates pushed many would-be buyers out of the market, the Census Bureau reported Tuesday. Sales of new single-family homes totaled a seasonally adjusted 610,000 units last month, below September's unrevised print of 738,000 and consensus estimates. Moreover, inventory totaled 9.5 months worth of supply. The midpoint sales price increased to $437,300 in October, while the average climbed to $545,800.

In the News:

Amgen (AMGN  ) announced Tuesday its experimental weight loss injection led to up to 20% weight loss on average after a year in a mid-stage clinical trial. Notably, the drugmaker did not observe a plateau in either group of patients with obesity or Type 2 diabetes, which indicates the potential for further weight loss.

For Wednesday:

Market participants will turn their attention towards a slew of economic reports on Wednesday, including October's key personal consumer expenditures (PCE) index reading. Earnings reports for Wednesday also include Dell Technologies (DELL  ), CrowdStrike Holdings (CRWD  ) and Nordstrom (JWN  ).