The S&P 500 rose 0.8 percent on Tuesday reaching a new record. The Nasdaq composite ticked up 0.6 percent.
The Stoxx Europe 600 closed with a 0.2 percent gain. Asian markets were mixed.
Oil prices fell, with West Texas Intermediate, the U.S. crude benchmark, down 0.9 percent to $70.61 a barrel.
BMW fell 4.2 percent, while Stellantis, which owns Jeep, Peugeot and Fiat, rose more than 5 percent. Both carmakers reported large increases in profit in their quarterly earnings report on Tuesday, but warned that a global shortage of semiconductors is continuing to disrupt production.