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Stocks jump on NAFTA hopes



FILE PHOTO: Mexico's Economy Minister Ildefonso Guajardo (L-R), Canada's Foreign Minister Chrystia Freeland and U.S. Trade Representative Robert Lighthizer arrive for a trilateral meeting during the third round of NAFTA talks involving the United States, Mexico and Canada in Ottawa, Ontario, Canada, September 27, 2017. REUTERS/Chris Wattie/File Photo
Economy Minister Guajardo, Canada’s Foreign Minister Freeland and
U.S. Trade Representative Lighthizer arrive for a meeting during
the third round of NAFTA talks in Ottawa

Thomson Reuters

Stocks jumped Monday after the US and Mexico settled a key trade
dispute surrounding a modernized NAFTA. The dollar
fell, and Treasury yields jumped. 

Here’s the scoreboard:

Dow Jones industrial
26,055.03 +264.68

 2,895.98 +21.29

8,017.40 +71.43

  1. The
    US and Mexico reached a preliminary trade deal
    that he
    signaled could overhaul NAFTA. 
    Trump claimed a
    new agreement would be called the “United States-Mexico Trade
    Agreement” and threatened to hit Canada with auto tariffs if it
    did not join the two countries. But President Enrique Peña
    Nieto pushed back on threats to exclude Canada, which is
    expected to begin talks with administration officials right
  2. The Trump administration held a final round of hearings
    on proposed 25% tariffs targeting an additional $200 billion
    worth of Chinese imports.

    Companies testified
     last week that another tranche of
    tariffs, which would almost certainly include
    more consumer products than the last
    , would raise costs and
    reduce access to foreign markets. 
  3. In efforts to make up for losses from Trump’s tariffs,
    the Department of Agriculture said it would pay farmers up to
    $4.7 billion in taxpayer funds.
    Soybean farmers — who
    have seen their biggest market compromised in the US-China
    trade war — are poised to get a majority of the payout at up to
    $3.6 billion,
    the Wall Street Journal
     first reported.
  4. Volkswagen only
    recently started taking steps to prevent an incident like its
    2015 emissions scandal, a Justice Department-appointed
    lawyer said
    in a report
    Thompson, assigned to monitor the German carmaker
    following its civil settlement with the
    US, cited a lack of transparency from the
    it rigged its cars to cheat emissions tests

And a look at the upcoming economic calendar:

  • Consumer spending numbers and GDP revisions are out in the
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