Stocks rose on Tuesday as a resolution between Mexico and the U.S. to avoid tariffs and hopes of lower interest rates from the Federal Reserve lifted investor sentiment.
The Dow Jones Industrial Average leaped 112.31 points to open Tuesday at 26,174.99
The S&P 500 hiked 13.12 points to 2,899.85.
The NASDAQ Composite jumped 53.88 points to 7,877.05.
The Dow was poised to notch its seventh straight gain. That would mark the 30-stock index’s longest winning streak since May 2018, when it rose for eight straight days. Meanwhile, the S&P 500 is within 2% below an all-time high set in April.
Market expectations for lower rates by July sat around 78%. Investors are also pricing in a 97.1% chance of lower rates by December.
Prices for the benchmark 10-year U.S. Treasury were unchanged, leaving yields at Monday’s 2.15%. Treasury prices and yields move in opposite directions.
Oil prices gained 37 cents to $53.63 U.S. a barrel.
Gold prices slipped $1.10 at $1,32820 U.S. an ounce.
