Emerging markets' stocks climbed to their highest since April 2022 on Tuesday after China introduced new measures to boost its sluggish economy.

The Dow and S&P 500 reached new highs on Tuesday, overcoming weak consumer confidence data, with mining stocks driving gains after China unveiled a sweeping stimulus package. The indexes initially trimmed gains after a report from the Conference Board revealed an unexpected decline in U.

China issued a broad stimulus package of monetary measures to boost a sluggish economy weighed down by a housing market slump and weak consumer sentiment.