The Dow Jones Industrial Average jumped more than 250 points Monday afternoon after the Trump administration secured a new North American free trade agreement with Canada and Mexico.
According to CNBC, “stocks rose sharply” hours after the White House confirmed the international agreement Sunday night.
“The Dow Jones Industrial Average rose 264 points as American Express and Boeing outperformed. The S&P 500 gained 0.8 percent, led by 1 percent jumps in materials and industrials. The Nasdaq Composite advanced 0.7 percent as Amazon and Apple both climbed more than 1 percent,” writes CNBC.
“The biggest risk factor [in the market] is a trade war and we’ve dialed that down a bit,” added one industry insider.
The new trade agreement will ease access for American farm workers and the US automobile industry into Canadian and Mexican markets.
Read the full story at CNBC.