The Nasdaq composite hit an all-time high Monday morning amid news of a restructured NAFTA deal; breaking 8,000 points and inching up 0.6% after negotiators confirmed a revamped agreement was just hours away.
“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,” writes CNBC.
“The market has been buffeted with a lot of headwinds lately, and the biggest one is trade,” said one industry insider. “If you were to take trade out of the picture, you would have a smoother ride higher in this market.”
The ‘NEW NAFTA’ would center on easing tariffs and limitations on the American automobile and agricultural sectors; two key barriers blasted by President Trump throughout the 2016 campaign.
Read the full story at CNBC.