Futures include gains on agreement to replace NAFTA

(Reuters) – US equity markets announced a rally on Monday after the US and Canada reached a last-minute deal to save NAFTA as a trilateral pact with Mexico, boosting talks with the US. other countries at the beginning of the fourth quarter.

Relief lifted world markets and sent the Mexican peso and the Canadian dollar to new heights after the new US-Mexico-Canada agreement (USMCA) saved a $ 1.2 trillion free zone Sunday dollars.

US President Donald Trump has forced Canada and Mexico to accept a more restrictive trade with their main export partner in an agreement that will complicate the construction of cheap cars in Mexico and aims to create more jobs in the United States.

Ford shares (F.N) rose by 1.4%, while General Motors (GM.N) gained 1.6%.

Trump's primary objective in reshuffling NAFTA was to reduce US trade deficits, a goal he also pursued with China, by imposing hundreds of billions of dollars in tariffs on goods imported from the giant. Asian.

Of the stocks, Tesla (TSLA.O) shares jumped 15.4% after Elon Musk's decision to step down as president of the company, but remain as CEO in an agreement with the US Securities and Exchange Commission on Saturday.

The chip makers were among the first losers, with Intel (INTC.O) down 1.9 per cent after Barclays downgraded the chip maker, saying it would face an expensive battle to keep its market share amid a short-term slowdown in its end markets.

AMD (AMD.O) decreased 1.9% after Baird reduced its rating to "neutral".

At positive oil prices, oil prices were adding up, close to their four-year highs, due to supply concerns ahead of the impending US sanctions against Iran. This raised Chesapeake (CHK.N) shares 1.78 percent.

At 07:01 eastern daylight time, e-minis 1YMc1 were up 205 points, or 0.77%. The S & P 500 e-minis ESc1 rose 17.25 points, or 0.59%, and the Nasdaq 100 e-minis NQc1, by 54.75 points, or 0.72%.

The week ends with the Department of Labor's report on non-farm wages and attention could also be shifted to the start of the financial reporting season at the end of the month.

Backed by a growing economy, significant corporate tax cuts and increased share repurchases, S & P 500 companies are expected to see a 21.6% increase in their profits. compared with the previous year, according to Thomson Reuters I / B / E / S.

ISM's national index of industrial activity at 10:00 am Eastern Time is expected to be down 60.3 in September from 61.3 in August, still showing strong growth in the economy.

In addition, the US Department of Commerce is expected to report that construction spending rose 0.5% in August, after rising 0.1% in July.