What's moving markets today: June 10, 2019

By CNN Business

Updated 5:30 p.m. ET, June 10, 2019
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6:13 a.m. ET, June 10, 2019

A 'merger of equals'

From CNN Business' Julia Horowitz

United Technologies (UTX) and Raytheon (RTN) have agreed to merge, creating an aerospace and defense powerhouse.

The companies currently have a market value of $166 billion. The deal, announced Sunday, is one of the biggest corporate mergers of 2019.

It won't include United Technologies' elevator and air conditioning units, which the company will spin off in 2020.

How investors are reacting: Shares of Raytheon (RTN) are tracking 2.8% higher in premarket trading, while stock of United Technologies (UTX) is up 5%.

6:13 a.m. ET, June 10, 2019

Markets react to tariff reversal

From CNN Business' Julia Horowitz

The announcement of a deal between the United States and Mexico to stave off US tariffs is boosting global markets.

  • US stock futures point higher. The Dow is set to rise 85 points, or 0.3%. The Nasdaq and S&P 500 could jump 0.4% and 0.3%, respectively.
  • Britain's FTSE 100 rose 0.5% in early trading, and France's CAC 40 climbed 0.2%.
  • Earlier today, Hong Kong's Hang Seng shot up 2.3%, while Japan's Nikkei rallied 1.2%.

US President Trump on Friday called off tariffs on goods from Mexico that would have gone into effect this week.

"I am pleased to inform you that The United States of America has reached a signed agreement with Mexico," Trump tweeted Friday.
"The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended."

The reversal is good news for US stock indexes. The Dow, S&P 500 and Nasdaq are coming off their best weeks of the year, boosted by investor optimism that the Federal Reserve could be on the verge of cutting interest rates.