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Don’t look now, but markets are once again approaching all-time highs. The Dow Jones Industrial Average, last topping out at 26,616.71 this past January, sees that figure roughly 3% away. Trading strength over the summer months, boosted in large part by another strong earnings season, has poised the index up an additional 142 points in today’s pre-market.
Positive sentiment has also emerged over the course of this summer that trade tensions may be relieved sooner than later, and this morning we see another step forward on this front: a new trade deal between the U.S. and Mexico is expected sometime today, following talks which have concluded between the two countries. It’s unclear exactly how this will affect the NAFTA agreement signed a quarter-century ago, which would include Canada along with Mexico and the U.S., but even Canada has publicly recognized that the U.S. and its neighbor to the south have relatively greater trade concerns.
Incoming Mexican President Lopez Obrador — the socialist known as AMLO — has expressed he’d like the trade rift between his country and the U.S. behind them by the time he takes office later this year. Some say a new tri-lateral deal for NAFTA overall may be realized by the end of this week, although many see this as a rather tall order. Nevertheless, news of real progress south of the border is adding to positive pre-market sentiment for the first trading day of this week.
Elsewhere, a sigh of relief for fans of a publicly-traded Tesla Corp. (TSLA - Free Report) this morning, as the electric car leader and its CEO Elon Musk have expressed the company will not going into private holding, despite an August 7th tweet by Musk that he planned to take the company private once its share price hit $420. This tweet may have triggered an SEC investigation into whether Musk was manipulating his company’s stock price by targeting short-sellers.
That said, TSLA shares have fallen 2.3% on the news this morning, notably down from the near-term highs post-tweet, and the auto manufacturer’s all-time closing high of $379 roughly 50 weeks ago. Shareholders had overwhelmingly expressed opposition to Musk’s public musings about taking his company private, which look to have changed the CEO’s mind… at least for now. Tesla currently carries a Zacks Rank #3 (Hold) with a Style Score (Value - Growth - Momentum) of F.
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Will U.S.- Mexico Trade Dispute End Finally?
Don’t look now, but markets are once again approaching all-time highs. The Dow Jones Industrial Average, last topping out at 26,616.71 this past January, sees that figure roughly 3% away. Trading strength over the summer months, boosted in large part by another strong earnings season, has poised the index up an additional 142 points in today’s pre-market.
Positive sentiment has also emerged over the course of this summer that trade tensions may be relieved sooner than later, and this morning we see another step forward on this front: a new trade deal between the U.S. and Mexico is expected sometime today, following talks which have concluded between the two countries. It’s unclear exactly how this will affect the NAFTA agreement signed a quarter-century ago, which would include Canada along with Mexico and the U.S., but even Canada has publicly recognized that the U.S. and its neighbor to the south have relatively greater trade concerns.
Incoming Mexican President Lopez Obrador — the socialist known as AMLO — has expressed he’d like the trade rift between his country and the U.S. behind them by the time he takes office later this year. Some say a new tri-lateral deal for NAFTA overall may be realized by the end of this week, although many see this as a rather tall order. Nevertheless, news of real progress south of the border is adding to positive pre-market sentiment for the first trading day of this week.
Elsewhere, a sigh of relief for fans of a publicly-traded Tesla Corp. (TSLA - Free Report) this morning, as the electric car leader and its CEO Elon Musk have expressed the company will not going into private holding, despite an August 7th tweet by Musk that he planned to take the company private once its share price hit $420. This tweet may have triggered an SEC investigation into whether Musk was manipulating his company’s stock price by targeting short-sellers.
That said, TSLA shares have fallen 2.3% on the news this morning, notably down from the near-term highs post-tweet, and the auto manufacturer’s all-time closing high of $379 roughly 50 weeks ago. Shareholders had overwhelmingly expressed opposition to Musk’s public musings about taking his company private, which look to have changed the CEO’s mind… at least for now. Tesla currently carries a Zacks Rank #3 (Hold) with a Style Score (Value - Growth - Momentum) of F.