Day Traders Diary
The major averages extend last week's big gains with the Dow closing higher for a sixth straight day after the U.S. reached an agreement with Mexico on tariffs. The Dow Jones Industrial Average rose over 70 points while the S&P 500 and the Nasdaq closed higher as well. The S&P 500 is now within 2% of all-time highs.
The most heavily weighted sectors outperformed with consumer discretionary rising 1%, information technology rose 1%, and financials rose 0.9%.
Shares of GM and Ford, two companies that had a lot to lose in a trade battle with Mexico because of their production there, jumped 1.5% and 0.6% respectively on Monday.
Merger Monday. Raytheon and United Technologies agreed to an all-stock merger that would create a combined company with $74 billion in annual sales. Both shares surged in premarket trading.
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