Investing.com - Wall Street opened higher on Monday, with the S&P 500 breaching its all-time peak, while the Nasdaq rose above the 8,000-level for the first time, as the U.S. and Mexico closed in on a trade deal.
The S&P 500 gained 20 points, or 0.7%, to 2,894.82 as of 10:15 AM ET (13:38 GMT), while the Dow increased 216 points, or 0.85%, to 26,012.75 and the tech-heavy Nasdaq Composite rose 66 points, or 0.8% to 8,011.21.
U.S. and Mexican officials are meeting in Washington to discuss the North American Free Trade Agreement (NAFTA), and "hours" away from reaching a deal, Mexican Economy Minister Ildefonso Guajardo told reporters.
On Saturday morning, U.S. President Donald Trump tweeted that “ A big Trade Agreement with Mexico could be happening soon!”
A deal with Mexico would open up discussions with Canada. All three governments are working to reach a new NAFTA agreement by the end of August.
Technology stocks were among the top gainers after the morning bell, with Netflix (NASDAQ:NFLX) up 2.29%, Twitter (NYSE:TWTR) gaining 1.34% and Facebook (NASDAQ:FB) increasing 0.89%.
Goldman Sachs (NYSE:GS) jumped 1.17% after it opened its savings account Marcus in the U.K.
Meanwhile, Tesla (NASDAQ:TSLA) dipped 1.40% after CEO Elon Musk said the company would remain public.
In Europe stocks were up. Germany’s DAX rose 88 points, or 0.71%, while in France the CAC 40 increased 35 points, or 0.65%. Meanwhile, the pan-European Euro Stoxx 50 gained 16 points, or 0.49%, while Spain’s IBEX 35 surged 49 points, or 0.51%. In London, the FTSE 100 was closed for a bank holiday.
In commodities, gold futures fell 0.07% to $1,212.50 a troy ounce, while crude oil futures increased 0.16% to $68.83 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.21% to 94.88.