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Wall Street ends higher as US-Mexico trade tensions ease

IANS  |  New York 

U.S. stocks extended gains after the US reached an agreement with on immigration issue that would allow 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 rose 81.07 points, or 1.05 per cent, to 7,823.17, 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, and communication services, however, struggled.

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

Investors also paid close attention to a mega deal in the

and 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 on Sunday. Shares of rose 0.69 per cent, while shares of 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.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 11 2019. 05:54 IST
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