Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end higher as US, Mexico strike trade deal

28-Aug2018

US markets end higher as US, Mexico strike trade deal

Magnifying their last session's gains, the US markets ended higher on Monday with the S&P 500 and the Nasdaq closing at records for a second straight session as President Donald Trump confirmed reports the US has reached a preliminary trade deal with Mexico. The US and Mexico reached an agreement to enter into a new trade deal as President Donald Trump announced that he wants to drop the name North American Free Trade Agreement from an existing deal that includes Canada. The president said the new deal would be called the United States-Mexico Trade Agreement rather than NAFTA. Meanwhile, Trump indicated the US would soon begin negotiations with Canada but suggested that any agreement could be a separate deal. Besides, it is the first time the Nasdaq traded above 8,000, taking the tech-laden index 164 trading days to rise 1,000 points from 7,000. It marks the second 1,000-point advance for the Nasdaq this year, something that has not happened since 1999.

On the economic front, a measure of the US economy from the Chicago Federal Reserve slowed in July from June's robust performance, owed in large part to lighter output at the nation's factories. The Chicago Fed's index of national economic activity registered at a positive 0.13 last month, down from an upwardly revised positive 0.48 in June.

Dow Jones Industrial Average surged 259.29 points or 1.01 percent to 26049.64, the S&P 500 rose 22.05 points or 0.77 percent to 2896.74 and Nasdaq was up by 71.92 points or 0.91 percent to 8017.90.


Related News

View all news

All Asian markets trade in green in early deals on Friday

All of the Asian markets are trading in green in early deals on Friday, following the record highs overnight on Wall Street's S&P 500, while the US dollar weakened as worries about trade tensions......

US markets end significantly higher on Thursday

The US markets ended significantly in green terrain on Thursday, as traders continued to shrug off concerns about the escalating trade dispute between the U.S. and China. Traders also took some encouragement......

Asian markets trade mostly in green on Thursday

Most of the Asian markets are trading in green on Thursday, following the mostly positive cues overnight from Wall Street as investors set aside concerns over a full-blown global trade war between US and......

Top News

View all news

Sun Pharma receives Australian TGA approval for ILUMYA

Sun Pharmaceutical Industries has received the Australian Therapeutic Goods Administration (TGA) approval for its specialty product, ILUMYA (tildrakizumab) for the treatment of adults with moderate-to-severe......

TCS features as leader in Everest Group PEAK Matrix for F&A Digital Augmentation Suite

Tata Consultancy Services (TCS) has been positioned as a leader in the Everest Group PEAK Matrix for Finance and Accounting (F&A) Digital Augmentation Suite (DAS).Cited as a strength is the company's......

Infosys enters into exclusive partnership with Trinity College

Infosys has entered into an exclusive partnership with Trinity College to create new educational programs that prepare liberal arts students and Infosys employees for the digital workplace of the future.......