(The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: U.S. stocks rose Monday, buoyed by relief over the White House’s decision to drop a threat to hit Mexico with tariffs on billions of dollars of goods.
Treasury yields and shares of manufacturers and technology firms rose after President Trump said tariffs on Mexican imports, which had been set to go into effect Monday, had been “indefinitely suspended.”
Worries about the U.S.’s trade fight with China and more recently, Mexico, had sent stocks swinging and bond yields falling well below the highs they hit last year. The deal that Mexico and the U.S. struck late last week to avert tariffs helped reassure investors that trade tensions between the two countries are winding down for now.
The Dow Jones Industrial Average climbed 78 points, or 0.30%, to 26062 in afternoon trading, heading for its sixth consecutive session of gains. The S&P 500 added 0.47% and the Nasdaq Composite advanced 1.05%.
Financial shares helped lead the broader market higher Monday, with Goldman Sachs jumping 2.4% and Morgan Stanley adding 1.7%. Rising bond yields tend to help lenders, since they increase the gap between what banks charge borrowers and what they pay depositors.
Shares of car makers also climbed, with Ford Motor rising 0.8% and General Motors advancing 1.7%. The two stocks have been particularly sensitive to trade tensions between the U.S. and Mexico, since the companies build a hefty chunk of their cars in Mexico.
Corporate deal news also lifted major indexes. Shares of military contractor Raytheon added 1.1% after it agreed with United Technologies to merge in an all-stock deal that will create the world’s second largest aerospace-and-defense company by sales.
As bond prices retreated, so-called bond proxies in the stock market—sectors like utilities and real estate that tend to pay hefty dividends—also took a leg lower.
Elsewhere, the Stoxx Europe 600 edged up 0.2%, lifted by gains in shares of banks and basic resources firms.
Stock indexes in Asia notched gains across the board, with Japan’s Nikkei Stock Average rising 1.2% and the Shanghai Composite ending up 0.9% to snap a six-session streak of losses.
FYI:
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-06-10/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/stock-futures-rise-as-us-mexico-trade-tensions-cool-2019-06-10/printWSJ:
https://www.wsj.com/articles/global-stocks-gain-on-u-s-mexico-deal-11560153230Bloomberg:
https://www.bloomberg.com/news/articles/2019-06-09/asia-stocks-set-for-gains-u-s-futures-higher-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/nasdaq-outmatches-dow-jones-broad-rally-2-tech-groups-lead-june/CNBC:
https://www.cnbc.com/2019/06/09/dow-futures-jump-more-than-100-points-after-us-mexico-reach-deal-to-avoid-tariffs.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/wall-street-rallies-on-mexico-relief-ma-cheer-idUKKCN1TB1DXU.K:
https://uk.reuters.com/article/uk-britain-stocks/trade-relief-spurs-uk-stocks-buyout-talks-lead-thomas-cook-higher-idUKKCN1TB0SJEurope:
https://www.reuters.com/article/us-europe-stocks/fca-renault-deal-hopes-aid-european-shares-idUSKCN1TB0QXAsia:
https://www.marketwatch.com/story/asian-markets-rally-on-encouraging-trade-developments-2019-06-09/printBonds:
https://www.cnbc.com/2019/06/10/us-treasury-yields-tick-higher-as-trump-suspends-tariffs-on-mexico.htmlCurrencies:
https://www.cnbc.com/2019/06/10/forex-market-mexico-tariffs-lifted-us-china-trade-war-in-focus.htmlOil:
https://www.cnbc.com/2019/06/10/oil-market-us-mexico-tariffs-lifted-opec-supply-cuts-in-focus.htmlGold:
https://www.cnbc.com/2019/06/10/gold-market-us-mexico-tariffs-lifted-fed-rate-cut-bets-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
