US stocks moved higher on Tuesday morning following a bruising day on Wall Street, marked by renewed criticism of Federal Reserve Chair Jerome Powell by President Trump.

The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) were up 1.9%, while the tech-heavy Nasdaq (^IXIC) added about 2.1%.

On Monday, stocks tanked as Trump took to social media to say that the US economy would slow unless Powell cuts interest rates now, calling the Fed Chair "Mr. Too Late" and "a major loser." 

Trump's comments escalated growing tensions between the president and the central bank. Last week, after Powell warned on Trump's tariffs and reiterated the Fed would take a cautious approach to reducing rates, Trump hit back with "Powell's termination can't come soon enough." 

For investors trying to keep up with Trump's fast-moving trade policy, the rift adds another layer of stubborn uncertainty as to where the economy could go next. On that front Tuesday, the US hailed progress on a trade deal with India as US Vice President JD Vance met with Prime Minister Narendra Modi.

Read more: The latest on Trump's tariffs

Later on Tuesday, investors' attention will turn to Tesla (TSLA) earnings, with the EV maker set to report its results after the bell. 

Tesla has been contending with signs of slumping sales and waning demand as CEO Elon Musk's role in the White House rattles its brand. Tesla shares fell nearly 6% on Monday and are down nearly 44% this year. 

In other corporates, Verizon (VZ) shares dipped at the open on Tuesday after the telecom giant reported a larger-than-expected loss in wireless subscribers for Q1, hit by recent price hikes and stiff competition from rival promotions.