Markets Right Now: Stocks rise on US deal with Mexico

Business
Craig Esposito

FILE – In this May 30, 2019, file photo trader Craig Esposito, right, works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, June 7. (AP Photo/Richard Drew, File)

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NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are rising Monday as investors welcome a deal between the U.S. and Mexico that avoids the imposition of tariffs.

General Motors gained 2.3% and Ford rose 2.5% after President Donald Trump suspended plans to impose tariffs on goods imported from Mexico, including autos.

Technology stocks rose, with Apple up 1.3%. Banks rose as bonds fell and the yield on the 10 year Treasury jumped to 2.13% from 2.08% Friday.

Raytheon and United Technologies struck a deal to create a defense and aerospace giant with annual sales of $74 billion. Raytheon posted a small gain while United Technologies fell slightly.

The S&P 500 index rose 19 points, or 0.7%, to 2,892. The index rose 4.4% last week, its best weekly performance of 2019.

The Dow Jones industrials rose 174 points, or 0.7%, to 26,158. The Nasdaq gained 80 points, or 1%, to 7,822.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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