Stocks rose on Monday, extending last week’s big gains, after the U.S. reached an agreement with Mexico on tariffs, easing some of the trade concerns which have weighed on the market since early May.
The Dow Jones Industrial Average rose for a sixth straight session, finishing the day 78.74 points higher at 26062.68 after jumping 226.67 points at intraday high. The S&P 500 gained about 0.5% at 2886.73, now about 2% from its intraday all-time high hit on May 1. The Nasdaq Composite rose 1% at 7823.17 on Monday, led by Amazon.
President Donald Trump announced Sunday that proposed tariffs on Mexican imports would be suspended indefinitely. Trump said in a Twitter post that he has “full confidence” that Mexico will crack down on migration from Central America, after the two neighbors reached a consensus.