S&P 500, Nasdaq jump to record highs as US and Mexico strike trade deal



Well, at least for today, it was decided to be good news.

Quote:Stocks jumped on Monday as the United States and Mexico closed a new trade deal, potentially removing a source of uncertainty that had been plaguing investors for months.

The S&P 500 gained 0.8 percent to close at 2,896.74 — a record high — with materials and financials as the best-performing sectors. The Nasdaq Composite climbed 0.9 percent to an all-time high, breaking above 8,000 points for the first time, as Facebook, Amazon, Netflix and Alphabet rose. Tech's gains led the Nasdaq to close at 8,017.90.

The Dow Jones Industrial Average rose 259.29 points to 26,049.64 as Caterpillar outperformed. Monday also marked the first time since Feb. 1 that the Dow closed above 26,000.

"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."

Keep reading here...

(08-27-2018 04:07 PM)Hambone10 Wrote:  

(08-27-2018 10:33 AM)BobL Wrote:  

(08-27-2018 10:22 AM)HeartOfDixie Wrote:  The minimum wage part is big.

It would be great if there was some movement on textiles as well.

Agree, the best way to deal with illegal immigration from mexico is to help mexico improve their standard of living, this certainly helps.

(08-27-2018 10:46 AM)Marc Mensa Wrote:  I thought the market best set the wage and a forced minimum wage would actually do more damage than good? Surely, you're not saying it will raise the standard of living in Mexico?

You and Tom are ridiculous.

It's not a forced min wage since it doesn't apply to people flipping burgers or stocking the bread aisle.... nor does it apply to cars built for the Mexican market only.... just for exports. You can't put a tariff on something not imported.

and Sorry Tom, but 75% is still < 62.5% which you seemed fine with. This deal is better for Mexico and worse for China, which helps address our immigration issues since it's vastly harder to illegally migrate from China.

Seriously, my biggest problem with you guys is that you can't imagine that Trump and his people can do ANYTHING that isn't somehow a disaster.

Tom, please explain to me how 75% from North America is somehow WORSE than 62.5% from North America?
Marc, please explain to me how increasing labor costs in Mexico (or face tariffs) is BAD for the US, US workers and Illegal immigration? Or better, how the US economy and Mexico's are (in your mind) interchangeable in that what is good and works for them might not be good for or work for us?

I have to agree Ham....These two point alone make this an improvement over NAFTA. I cant see how this is a bad thing. I understand there are always unintended consequences..but..at this point I have no idea what they could be. I give this a