The American stock market surged Wednesday after reports of a potential trade deal with Canada; setting new records for both the Nasdaq composite and the S&P 500 index.
According to CNBC, the Nasdaq spiked a whopping 1% and the Dow Jones Industrial Average rose 54 points as Apple and Amazon posted huge gains.
“A rally in tech stocks led the Nasdaq Composite and S&P 500 to record highs, with Amazon, Alphabet and Apple leading the gains. Investor sentiment was also boosted by a resumption of U.S.-Canada trade talks,” writes CNBC.
“Canadian Foreign Minister Chrystia Freeland rejoined NAFTA talks on Tuesday, a day after the U.S. and Mexico announced they had struck a bilateral trade deal. Freeland told reporters that Mexico’s ‘difficult’ concessions to the States earlier this week would help lead the way for productive discussions between the three countries this week,” adds the article.
Read the full report at CNBC.