Stocks Hit Fresh Records on Israel Cease-Fire Deal – US Market Wrap
Stocks closed at all-time highs as investors looked past Donald Trump’s tariff plan, and geopolitical risks eased after Israel and Hezbollah reached a cease-fire agreement.
Equities extended their gains into a seventh consecutive session, the longest winning streak for the S&P 500 since mid-September. This is the gauge’s 52nd record of the year. Microsoft drove software companies higher, citing the group’s lower susceptibility to tariff risks. While automakers such as General Motors and Ford Motor were hit by Trump’s plan because of their exposure to Mexico and China, a drop in equity volatility indicated that calm had prevailed.
President-elect Trump has promised to levy an additional 10% tariff on Chinese imports and a 25% tariff on all products from Mexico and Canada. He said the measures are necessary to prevent migrants and illegal drugs from crossing the US border.
The S&P 500 increased by 0.6%. The Nasdaq 100 gained 0.6%. The Dow Jones Industrial Average rose 0.3%.
US 10-year yields rose two basis points to 4.30%. The dollar rose 0.2%. The Mexican peso and Canadian dollar fell.
