U.S. stock futures are pointing to a higher open on Wall Street to begin the week.

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Stocks around the world got a boost as President Trump backed away from his plan to slap a 5 percent tariff on Mexican goods late Friday night after the nation agreed to enforce a tougher stance on immigration and purchase more agricultural goods from the U.S.

Dow Jones futures were higher by 0.5 percent, S&P futures were up 0.4 percent and Nasdaq futures added 0.4 percent.

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