U.S. Stocks Climb Higher

US equity benchmarks opened higher on Monday as investors appeared to shrug off conflicting statements from President Trump on the weekend regarding the possibility of tariffs on Mexican exports as traders eyed the latest jobs data.

Eight of the 11 Standard & Poor’s 500 sectors were higher at the time of writing, with consumer discretionary leading the charge, up by 1.6%, followed by the technology sector, 1.45% higher and financials, up by 1.27%.

Trump tweeted on Sunday that tariffs on Mexican imports — which he said were “indefinitely suspended” on Friday — could still happen if the country did not cooperate on immigration at the southern border.

In other economic news, the number of job openings was little changed at 7.45 million on the last business day of April, according to the Bureau of Labor Statistics. This compared with a revised prior month reading of 7.47 million.

In equity news, Analog Devices (ADI) was leading the gainers on the S&P 500, up by 5.7% after Goldman Sachs raised its rating on the stock to a buy from a sell and bumped its price target to $114 from $101 a share.

LyondellBasell Industries (LYB) was hot on its heels, up by 5.5% after saying that it had embarked on a modified Dutch Auction tender offer to purchase as many as 37 million shares for $77 to $88 a share equaling 110% of the daily volume-weighted average price to the seller in cash.

Kraft Heinz (KHC) was 5.3% higher after saying late Friday that it restated audited consolidated financial statements for several years. It said that the changes were not quantitatively material. Casino and resort operators MGM Resorts (MGM) and Wynn Resorts (WYNN) were up by 4.6% and 4.8%, respectively.

Decliners included Salesforce (CRM), down 4.7% after the customer relationship management software provider said it entered into an agreement to acquire Tableau Software (DATA) for around $15.7 billion in an all-stock transaction. Tableau surged 35%.

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