Stocks in the United States settled Monday’s session higher as President Donald Trump goes on his first foreign trip and locks in deals.
President Trump described his overseas visits as a rare opportunity to give stability and peace to the people and the place as he arrived in Tel Aviv. His visit in Israel for 2 days will separate meeting with authority president in Palestine Mahmoud Abbas and the Prime Minister of Israel Benjamin Netanyahu. He also considers visiting important Jewish sacred sites like the Western Wall and Holocaust memorial Yad Vashem.
Before Trump goes to Israel, he visited Saudi Arabia which settled with a multi-billion-dollar arms agreement. Stocks that are related to defense popped behind the deal, with iShares U.S. Aerospace & Defense ETF advancing more than 0.9 percent in shares.
FBN Securities’ chief market strategist Jeremy Klein says the first foreign visit of Trump has placed his domestic anxieties on “the back burner” which would omit some of the headline risk for the meantime.
The NASDAQ composite rose more than 0.82 percent or 49.91 points at 6,133.62. The S&P 500 was 0.52 percent higher or 12.29 points at 2,394.02 led by the highs of its tech sector. Information technology has ever since been the leading advancer in the index this 2017, rising almost 18 percent. Meanwhile the Dow Jones industrial average gained as much as 90 points to finish at 20,894.83, with 3M and Boeing as the best performers.
Stock futures in the United States already opened the session higher, with Nasdaq by 11 points, S&P by 3.25 points and Dow futures about 47 points.