*By Kavitha Shastry*
U.S. stocks soared Monday after President Trump announced a trade deal had been reached with Mexico.
The Nasdaq marked its first-ever close above the 8,000 mark, and the Dow Industrials rose more than a percent, crossing 26,000 for the first time since early February. The S&P 500 also posted a record close.
"The market is getting a bit more familiar with the president's negotiating tactics," said John Petrides, managing director at Point View Wealth Management. "This is true to his election base, and the market is reading it as a positive sign."
Leading the charge on the Cheddar 50 Monday was General Motors, which rose almost 5 percent. U.S. automakers broadly got a boost after Trump said he was considering taxing Canadian car imports. Twitter and Alibaba also saw significant gains.
It wasn't all good news, though. Shares of Chipotle were down almost 5 percent after analysts at Wedbush cut their rating and price target on the stock. And Tesla pared its earlier losses to end the day down about a percent. CEO Elon Musk Friday announced in a [blog post](https://www.tesla.com/blog/STAying-public) he would no longer pursue plans to take the company private.
Cannabis stocks were also big winners on Monday, as momentum for legalization continued to grow. Canada's Tilray, which reports earnings Tuesday morning, [inked a deal](https://cheddar.com/videos/finally-a-pure-play-cannabis-investment) to supply Nova Scotia Liquor.
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Spain's government has fined Airbnb 64 million euros or $75 million for advertising unlicensed tourist rentals. The consumer rights ministry announced the fine on Monday. The ministry stated that many listings lacked proper license numbers or included incorrect information. The move is part of Spain's ongoing efforts to regulate short-term rental companies amid a housing affordability crisis especially in popular urban areas. The ministry ordered Airbnb in May to remove around 65,000 listings for similar violations. The government's consumer rights minister emphasized the impact on families struggling with housing. Airbnb said it plans to challenge the fine in court.
Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says that it doesn’t expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process. iRobot said that it is being acquired by Picea through a court-supervised process. Picea is the company's primary contract manufacturer. The Bedford, Massachusetts-based anticipates completing the prepackaged chapter 11 process by February.
Serbia’s prosecutor for organized crime has charged a government minister and three others with abuse of position and falsifying of documents related to a luxury real estate project linked to U.S. President Donald Trump’s son-in-law Jared Kushner. The charges came on Monday. The investigation centers on a controversy over a a bombed-out military complex in central Belgrade that was a protected cultural heritage zone but that is facing redevelopment as a luxury compound by a company linked to Kushner. The $500 million proposal to build a high-rise hotel, offices and shops at the site has met fierce opposition from experts at home and abroad. Selakovic and others allegedly illegally lifted the protection status for the site by falsifying documentation.
