The announcement of a renewed trade deal with Mexico is helping extend a market rally and lifting FAANG stocks.
The Dow Jones Industrial Average is up just 1%, rising to 26,048.34 at 1:40 p.m.
"A big deal looking good with Mexico!" tweeted President Trump today, which was followed by a press conference in which the president called the deal probably "the biggest ever."
A reversal of tone from the constant talk of trade and tariffs with China appears to be boosting market sentiment as the market continues its bull run today with the Dow topping 26,000 and the Nasdaq Composite crossing the 8,000 mark.
Nasdaq's technology sector rose 1% on Monday to the highest level in over two weeks.
Carrying over the momentum are FAANG stocks, as each of the entities which includes AAP holding Facebook, Inc. (FB) .
"The market is up about 1% and the FAANG stocks are all up around that range," Michael Pachter, equity analyst at Wedbush Securities, explained. "It's not too weird to think they're moving along with the market."
Facebook shares are up 1.67% to $177.56 per share. While the modest gain is positive, the stock is still tending toward the lower end of its 52 week range of $149.02 to $218.62.
Many analysts and investors remain concerned about Facebook's outlook.
"It has technical, fundamental and sentiment issues working against it at this time and it isn't cheap enough to be a value play," says James DePorre in his take on the Stock of Day for Real Money.