Temporary reprieve to US Auto makers boosts the markets

The S&P 500 moved higher after the announcement of temporary relief to US automakers. The imminent fears of a trade war got substantially cooled down when the White House announced a one-month delay for U.S. automakers that comply with the US – Mexico – Canada Agreement from the tariffs imposed on Mexico and Canada. This also heightened the expectations of tariffs to be shortlived.

While the Dow Jones Industrial Average surged by 485 points, or 1.14%, the S&P 500 index rose 84 point...