The trade deal struck with Mexico on Monday would effectively eliminate the NAFTA name and would now be called The United States-Mexico Trade agreement. The Trump administration was pushing for a revamp of the NAFTA agreement prior to December 1 when Mexico turns over its leadership to the incoming administration of President-elect Andrés Manuel López Obrador.

Freeland said that Mexico’s tough concessions to the U.S. could pave the way for productive negotiations, but a succinct resolution has yet to be in place.

Emerging markets could weigh on the minds of investors going forward as the MSCI All-Country World Index dropped to 0.4 percent and the MSCI Emerging Market Index fell 0.3 percent–both lows in recent weeks. With currencies being the primary propeller for emerging markets, they haven’t been helped by a strong dollar with the Dollar Spot Index increasing by 0.5 percent to its highest level in almost three weeks.

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