Stocks Ended Higher on US-Mexioco Trade Deal

U.S. stocks ended higher on Monday, with the S&P 500 and the Nasdaq closing at record highs for the second consecutive session, as investor sentiment was buoyed by a trade agreement reached between the United States and Mexico. The Dow Jones Industrial Average rose 259.29 points, or 1.01%, to 26,049.64. The S&P 500 gained 22.05 points, or 0.77%, to 2,896.74. The Nasdaq Composite added 71.92 points, or 0.91%, to 8,017.90.

Oil futures ended higher on Monday, as a committee of OPEC and non-OPEC producers reportedly revealed further progress in easing output curbs, as expected. West Texas Intermediate crude for October delivery added 15 cents, or 0.2%, to settle at $68.87 a barrel. October Brent crude added 39 cents, or 0.5%, to $76.21 a barrel.

The United States and Mexico agreed on Monday to overhaul the North American Free Trade Agreement (NAFTA), putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact.

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