Stocks Opened Higher amid Mexico Tariff Reprieve

U.S. stocks opened higher on Monday after President Donald Trump decided not to impose tariffs on imports from Mexico, cooling tensions on one front of a multi-pronged trade war. The Dow Jones Industrial Average lately rose 157.62 points, or 0.61%, to 26,141.56. The S&P 500 added 18.38 points, or 0.64%, to 2,891.72. The Nasdaq Composite climbed 88.04 points, or 1.14%, to 7,830.15.

Oil futures were mixed on Monday, as investors focused on worries about slowing global growth and looked for clues to the next move by OPEC and its allies on output curbs. West Texas Intermediate crude for July delivery rose 8 cents, or 0.1%, to $54.06 a barrel, while August Brent crude fell 7 cents, or 0.1%, to $63.22 a barrel.

Late Friday, President Donald Trump tweeted that he had suspended plans to impose tariffs on Mexico after reaching a deal with that country over stemming the flow of illegal immigration.

United Technologies said Sunday that it struck a deal to merge with Raytheon, an all-stock transaction that would create an aerospace and defense giant rivaling Boeing. The deal could put pressure on peers to keep up with the pair, making other small-capitalization defense companies look all the more attractive as targets for acquisition.