Sun, 29 Nov 2020

NEW YORK, New York - U.S. stocks rose again on Monday, partly on relief that tariffs on Mexican imports into the United States will avoid tariffs, thanks to a last-minute deal reached on Friday night.

The U.S. mirrored gains being made in equity markets around the world.

The Dow Jones rose for a sixth straight day, a streak not seen for 13 months.

At the close of trading Monday the Dow Jones Industrial Average was ahead 78.74 points or 0.3% at 26,062.68.

The Standard and Poor's 500 added 13.39 points or 0.47% to 2,886.73.

The Nasdaq Composite climbed 81.07 points or 1.05% to 7,823.17.

The U.S. dollar was mixed. After gaining against the euro in the Asian session, most of those gains were given up in U.S. trading.

By the close in New York on Monday, the euro was well bid at 1.1315.

The British pound conversely lost ground compared to its Asian performnace, last quoted at 1.2688.

The Jpaanese yen rose to 108.42 while the Swiss franc firmed to 0.9895.

The Canadian dollar was little changed, holding on to recent gains at 1.3266.

The Australian dollar remained weak, having been sold off in Asia. It was quoted at 0.6960.

The New Zealand dollar too was friendless, last quoted at 0.6610.

In overseas markets the FTSE 100 in London rose by 0.69%.

The German Dax appreciated by 0.77%.

The Paris-based CAC 40 added 0.34%.

Shares in Asia generally were strong after Friday night's deal between Mexico and the U.S.

A powerful improvement in Chinese exports also aided markets in the region.

The Australian market was closed due to the Queen's birthday being celebrated in New South Wales and Victoria.

At the close of trading in Hong Kong on Monday, the Hang Seng was ahead 548.08 points or 2.03% at 27,513.36.

In Japan, the Nikkei 225 jumped 249.71 points or 1.20% to 21,134.42.

The Shanghai Composite meantime gained 27.76 points or 0.98% to 2,855.56.

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