US Equity Handover Indices String Together Third Straight Up Day on Fading Mexico Tariff Fears

Matt Weller
By :  ,  Head of Market Research


  • US indices closed higher for the third consecutive day to hit a 2-week high.
  • All eleven major sectors closed higher, led by energy (XLE) stocks.
  • Headlines on US-Mexico immigration/tariff negotiations were hot and heavy today: The Trump Administration initially indicated that Mexico was not offering enough to avert tariffs, though the Washington Post reported late in the trading day that the two sides were considering a deal to boost immigration enforcement that may avert the tariffs.
  • Tech giants generally shook off regulatory concerns from the start of the week, though worries about Facebook (FB) remain.
  • Gold prices are testing their 2019 highs near $1340 on rate cut hopes.
  • Recent IPOs Beyond Meat (BYND) and Zoom Video (ZM) are poised to report earnings for the first time shortly after we go to press.

*There are no high-impact corporate announcements expected during tomorrow’s Asian session.*

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*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.

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