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Wall Street closes higher on NAFTA hopes

Stocks closed broadly higher on Wall Street, extending gains from Friday and moving further into record territory. 

The Dow Jones Industrial Average crossed the 26,000 mark for the first time in more than six months, gaining 259 points, or 1 percent, to close at 26,049. The Nasdaq composite rose above 8,000 for the first time. It climbed 71 points, or 0.9 percent, to close at 8,017. 

The S&P 500 index rose 22 points, or 0.7 percent, to 2,896.

Automakers, which would stand to benefit from warmer trade relations between the U.S. and Mexico, rose sharply on Monday. General Motors climbed 4.7 percent. Still, the deal is far from final, and the U.S. still needs to reach an understanding with Canada, the third party in the accord and the second-largest trading partner of the U.S.

Banks, technology and industrial companies also made big gains. Computer-processor maker AMD rose 5.3 percent; Goldman Sachs gained 3.2 percent and Facebook gained 1.6 percent.

Electric car maker Tesla slipped 1.1 percent after CEO Elon Musk said late Friday he was scrapping the idea of taking the company private.

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