Wall Street ends higher as US-Mexico trade tensions ease


New York, Jun 11 (IANS): U.S. stocks extended gains after the US reached an agreement with Mexico on immigration issue that would allow Mexico to avoid U.S. tariffs, easing some of the trade concerns on the market.

The Dow Jones Industrial Average increased 78.74 points, or 0.30 per cent, to 26,062.68 on Monday. The S&P 500 was up 13.39 points, or 0.47 per cent, to 2,886.73. The Nasdaq Composite Index rose 81.07 points, or 1.05 per cent, to 7,823.17, Xinhua reported.

Eight of the 11 primary S&P 500 sectors closed higher, with consumer discretionary and technology up 1.05 per cent and 0.98 per cent, respectively, leading the advancers among the groups. Utilities, real estate and communication services, however, struggled.

Shares of General Motors and Ford Motor closed up 1.47 per cent and 0.61 per cent, respectively, after trading on an upbeat note throughout the session. Both companies could have high stakes in U.S.-Mexico tariff clash due to their production there.

Investors also paid close attention to a mega deal in the aerospace industry.

Raytheon and United Technologies agreed to an all-stock merger that would create a combined company with approximately USD 74 billion in annual sales, according to a joint statement by the two companies on Sunday. Shares of Raytheon rose 0.69 per cent, while shares of United Technologies fell more than 3 per cent at Monday's close.

U.S. equities posted solid gains in the week ending June 7 amid hopes for possible interest rate cuts.

  

Top Stories


Leave a Comment

Title: Wall Street ends higher as US-Mexico trade tensions ease



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.