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Stocks finished higher Monday. The Dow climbed 259 points to 26049, while the S&P 500 rose 22 points to 2896. The Nasdaq Composite gained 71 points to 8017 points.

The S&P 500 advanced to a new record close for the second consecutive trading day while the Nasdaq Composite finished above 8,000 points for the first time. In geopolitics, the U.S. and Mexico agreed on the framework for a new trade deal that will replace NAFTA. The new agreement will be called the United States-Mexican Trade Agreement, and is expected to benefit both U.S. farmers and manufacturers. President Trump stated that at this time, the new agreement will not include Canada. On the data front, the Chicago Fed reported U.S. economic activity increased at a slower rate than expected.

Nine of 11 S&P 500 sectors finished in positive territory. Materials led gains and Industrials also outperformed following the announcement of the new trade agreement between the U.S. and Mexico. Financials rose in sympathy with the recent hawkish Fed commentary. In corporate news, shares of Advanced Micro Devices jumped 5.3% to $25.26 after an independent commission ruled in favor of the semiconductor in an ongoing patent dispute.

Breadth was positive on issues by roughly 9:5 on the NYSE and 5:4 on the Nasdaq. Composite NYSE volume was more than 3.8 billion shares.

Treasuries were weaker with the yield on the benchmark 10-year note climbing three basis points to 2.85%. In commodities, WTI crude added 0.3% to $68.93/barrel. COMEX gold gained 0.2% to $1,209.00/ounce amid a weaker dollar.