US stocks jump as Trump agrees new trade deal with Mexico

Announcement made on Monday

Jayna Rana
clock • 2 min read

The S&P 500 and Nasdaq indices reached all-time highs on Monday after the US and Mexico reached a new trade deal Donald Trump described as "much more fair" than the current North American Free Trade Agreement.

The S&P 500 gained 0.8%, closing at 2,896.74 with the best performing sectors being materials and financials, while the Nasdaq Composite rose 0.9%, breaking above 8,000 for the first time. Gains were made across many tech giants, including all the FANG stocks, leading the index to close at 8,017.90. Both of the indices reached record highs while the Dow Jones Industrial Average closed above 26,000 for the first time since February, closing at 26,049.64. Trump signals soft Brexit will 'kill' UK's chances of US trade deal US president Donald Trump said the deal would be called The Un...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read
Why the Bank of England needs to stop over-sharing

Why the Bank of England needs to stop over-sharing

'We are used to the comments of central bankers moving markets'

Laith Khalaf
clock 17 October 2024 • 4 min read