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

US markets end lower on Tuesday

After the sell-off seen in the previous session, the US markets once again closed in red on Tuesday. With the continued drop, the tech-heavy Nasdaq fell to its lowest closing level in over seven months.......

US markets close sharply lower on Monday

The US markets closed sharply lower on Monday with the Nasdaq falling to its lowest closing level in almost five months, as the biggest and most popular technology stocks plunged. Facebook and Apple led......

Asian markets exhibit mixed trend in early deals on Monday

Asian market indices are exhibiting mixed trend in early deals on Monday, amid the ongoing trade tensions between United States -China and on renewed anxiety about Brexit. The Japanese market is advancing......

Top News

View all news

Jumbo Finance gets shareholders' nod to increase borrowing limits up to Rs 30 crore

Jumbo Finance has received an approval to increase Borrowing Limits of the company up-to Rs 30 crore. The shareholders of the company at their meeting held on November 19, 2018, approved the same.Jumbo......

Alembic Pharma gets USFDA's nod for Vardenafil Hydrochloride Orally Disintegrating Tablets

Alembic Pharmaceuticals has received an approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Vardenafil Hydrochloride Orally Disintegrating Tablets,......

SRF expects total Rs 28 crore quantum of damage due to Cyclone GAJA

SRF is expecting a total Rs 28 crore quantum of damage caused, based on the initial assessment. The disruption of operations was due to Cyclone GAJA at the plant of Technical Textiles Business (Viralimalai)......