Markets rise on announcement of trade ‘understanding’ between U.S. and Mexico

Markets rise on announcement of trade ‘understanding’ between U.S. and Mexico

TORONTO — An announcement of the U.S. and Mexico reaching a trade “understanding” sent North American stocks higher with the S&P 500 and the Nasdaq composite setting new all-time highs.

The S&P/TSX composite index was up 88.34 points at 16,444.39. In New York, the Dow Jones industrial average was up 259.29 points at 26,049.64.

The S&P 500 index gained 22.05 points to 2,896.74 after reaching a high of 2,898.25. The Nasdaq composite surpassed 8,000 for the first time, gaining 71.92 points at 8,017.89 after reaching 8,024.94 in earlier trading.

The Canadian dollar traded higher at 77.01 cents US compared with an average of 76.71 cents US on Friday.

The October crude contract was up 15 cents at US$68.87 per barrel and the October natural gas contract was down 4.4 cents at US$2.869 per mmBTU.

The December gold contract rose US$2.70 at US$1,216 an ounce and the September copper contract was up 0.8 cents at US$2.708 a pound.

The Canadian Press

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