U.S. Stocks Rally Monday, Dow Jones Industrial Gains 336 Points, NASDAQ Up 72 Points
By Ken Martin, Leia Klingel, Matthew Rocco, Fox Business // March 5, 2018
ABOVE VIDEO: U.S. stocks rallied Monday, erasing morning losses, as investor concerns over U.S. trade tensions eased.
(FOX BUSINESS) – U.S. stocks rallied Monday, erasing morning losses, as investor concerns over U.S. trade tensions eased.
The Dow Jones Industrial Average gained 336.70 points, or 1.37%, to 24,874.76, snapping a four-day losing streak. The S&P 500 rose 29.69 points, or 1.1%, to 2,720.94. The Nasdaq Composite jumped 72.84 points, or 1%, to 7,330.70.
On Monday, Trump tweeted that his recently announced tariffs on steel and aluminum would not be imposed on Mexico and Canada if NAFTA negotiations with the two American neighbors produce a new deal. The remarks eased concerns of a potential trade war.
“We have large trade deficits with Mexico and Canada. NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs,” Trump wrote in a tweet early Monday. “Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed.”
The tweet was more positive than his Friday tweet in which he wrote that “trade wars are good,” sending stocks plunging as much as 300 points.
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