Investing.com - The S&P 500 opened at a record high for the second day on Tuesday, as a deal between the U.S. and Mexico eased trade tensions.
The S&P 500 gained 5 points, or 0.18%, to 2,902.02 as of 9:39 AM ET (13:39 GMT), while the Dow increased 63 points, or 0.24%, to 26,113.37 and the tech-heavy Nasdaq Composite rose 24 points, or 0.30%, to 8,042.05 after reaching 8,000 for the first time on Monday.
The U.S. and Mexico reached a trade deal on Monday that would replace the North American Free Trade Agreement (NAFTA). Canada has been excluded from the talks since July, but the three countries are aiming to close a deal by the end of August. But U.S. President Donald Trump warned he could still put tariffs on Canadian autos if they refused to agree to the new deal.
Retailer Tiffany & Co (NYSE:TIF) was among the top gainers, surging 2.48% after its same-store sales beat estimates. Microsoft (NASDAQ:MSFT) was up 0.69%.
Best Buy (NYSE:BBY) fell 4.49% despite its earnings coming in higher than expected on outlook concerns, while medical marijuana company Canopy Growth (NYSE:CGC) slumped 5.81% and Cronos Group (NASDAQ:CRON) decreased 2.16%. The sector gave back some gains, as marijuana stocks have soared over the last few weeks.
In Europe stocks were mixed. Germany’s DAX rose 10 points, or 0.08%, while in France the CAC 40 increased 22 points, or 0.42%, and in London the FTSE 100 was up 41 points to 0.55%. Meanwhile, the pan-European Euro Stoxx 50 was flat, while Spain’s IBEX 35 fell 18 points, or 0.20%.
In commodities, gold futures rose 0.27% to $1,219.30 a troy ounce, while crude oil futures decreased 0.06% to $68.83 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.27% to 94.41.