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       #Post#: 26715--------------------------------------------------
       Dow jumps more than 250 points, Nasdaq hits 8,000 as US and Mexi
       co strike trade deal
       By: MyLady Date: August 27, 2018, 11:58 am
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       Dow jumps more than 250 points, Nasdaq hits 8,000 as US and
       Mexico strike trade deal
       Stocks jumped on Monday as the United States and Mexico closed a
       new trade deal. Investors also digested reassuring comments from
       Federal Reserve Chair Jerome Powell on the central bank's
       policy-tightening path.
       The Dow Jones Industrial Average rose 260 points as Caterpillar
       outperformed. The Nasdaq Composite climbed 1 percent to an
       all-time high, breaking above 8,000 for the first time, as
       Facebook, Amazon, Netflix and Alphabet rose. The S&P 500 gained
       0.8 percent to hit a record high with materials and financials
       as the best-performing sectors.
       "The market has been buffeted with a lot of headwinds lately,
       and the biggest one is trade," said Art Hogan, chief market
       strategist at B. Riley FBR. "If you were to take trade out of
       the picture, you would have a smoother ride higher in this
       market."
       President Donald Trump said the deal would be called The United
       States-Mexico Trade agreement, getting rid of the NAFTA name.
       "The name NAFTA has a bad connotation because the United States
       was hurt very badly by NAFTA," he said. Trump added that the
       deal with Mexico is also very special for farmers and
       manufacturers.
       The comment comes after Mexican Economy Minister Ildefonso
       Guajardo said Sunday both countries were close to resolving key
       differences on trade. This would pave the way for a new deal
       between the two longtime trade partners. "We've continued making
       progress," Guajardo said.
       Trump tweeted earlier on Monday that a deal with Mexico was
       "looking good."
       Shares of Caterpillar and Boeing rose 2.8 percent and 1.3
       percent, respectively. Their stocks are considered trade
       bellwethers because of their large exposure to overseas markets.
       Shares of Ford, General Motors and Fiat Chrysler also rose.
       The Mexican peso rose 1.2 percent against the dollar.
       Investors have been grappling with trade worries over the past
       few months as the U.S. takes a more protectionist stance on the
       matter. The U.S. has slapped tariffs on billions of dollars
       worth in Mexican and Chinese imports, to which Mexico and China
       have retaliated.
       Global markets were also buoyed by news from Friday that the
       Fed's Powell sees "further, gradual" rate hikes ahead. The Fed
       chief said at the Jackson Hole Symposium in Wyoming that the
       central bank would likely continue with its policy tightening if
       the economy continued to strengthen.
       Powell's comments lifted the S&P 500 and Nasdaq composite
       indexes to record highs in Friday's trading session. In Europe,
       the Stoxx 600 index rose 0.5 percent on Monday, while the German
       Dax climbed 1.2 percent.
       In Asia, China's central bank, the People's Bank of China
       (PBOC), reintroduced a policy adjustment aimed at supporting the
       yuan. The move, coupled with Powell's comments, sent the
       Shanghai Composite up by 1.9 percent overnight.
       Tesla shares dropped 2 percent after CEO Elon Musk gave up
       efforts to take the company private.
 (HTM) https://www.cnbc.com/2018/08/27/us-stocks-to-open-higher-after-powell-signals-further-rate-hikes.html
       #Post#: 26717--------------------------------------------------
       Re: Dow jumps more than 250 points, Nasdaq hits 8,000 as US and 
       Mexico strike trade deal
       By: MyLady Date: August 27, 2018, 12:04 pm
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       Good news for everyone. But remember when they said Trump was
       getting us in a trade war?
       Remember they said he is racist against Mexico and we could
       never have a relationship with our southern neighbor?
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