Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

Screenshot Reuters.com
VOTE  (0)  (0)

Wall Street rises on Mexico relief, Dow up a sixth day


Added 06-10-19 05:03:01pm EST - “U.S. stocks extended their recent climb on Monday, with the Dow reaching its lon...” - Reuters.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Reuters.com: “Wall Street rises on Mexico relief, Dow up a sixth day”. Below is an excerpt from the article.

NEW YORK (Reuters) - U.S. stocks extended their recent climb on Monday, with the Dow reaching its longest daily winning streak in 13 months after the United States dropped plans to impose tariffs on Mexican goods and a couple of multibillion-dollar deals boosted the market.

Mexico on Friday agreed to step up efforts to stem the flow of Central American migrants after Washington threatened to impose a 5% import tariff on all Mexican goods starting on Monday.

Among major deals, United Technologies Corp agreed to combine its aerospace business with defense contractor Raytheon Co to create a new company worth about $121 billion.

Strategists said the Mexico trade news cheered investors, leaving the S&P 500 about 2% from its early May record high. But they noted indexes ended the session well off the day’s highs and feared investors may be trading more on hope than on reality.

“All it is, is a relief rally that we don’t have tariffs with Mexico,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE