Nasdaq hits 8,000 for First Time in History as US Renegotiate NAFTA Deal

Stocks jumped on Monday as the United States and Mexico drew closer to a deal on NAFTA. Investors also digested reassuring comments from Federal Reserve Chair Jerome Powell on the central bank’s policy-tightening path.

The Nasdaq Composite climbed 0.6 percent to an all-time high, breaking above 8,000 for the first time, as Facebook, Amazon, Netflix and Alphabet. The Dow Jones Industrial Average rose 214 points as Caterpillar outperformed. The S&P 500 gained 0.6 percent to hit a record high with materials and financials as the best-performing sectors.

“The market has been buffeted with a lot of headwinds lately, and the biggest one is trade,” said Art Hogan, chief market strategist at B. Riley FBR. “If you were to take trade out of the picture, you would have a smoother ride higher in this market.”

CNBC reported, citing a Mexican official, that trade talks between the U.S. and Canada had concluded and a NAFTA announcement could come later on Monday. full story

Follow Us

Facebooktwittergoogle_plusrssinstagram

Get Updates!



About Rhett October 1076 Articles
Rhett October is a man independent of the nanny state. He sees what is obvious but to many others is a successful deception. He has a crush on Tomi Lahren. Follow him on Twitter @RhettOctober "After this, there is no turning back. You take the blue pill—the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill—you stay in Wonderland, and I show you how deep the rabbit hole goes. Remember: all I'm offering is the truth. Nothing more." -Morpheus