U.S. Markets open in 6 hrs 3 mins

News Summary: US, Mexico sign water-sharing pact

The Associated Press

NEW DEAL: The United States and Mexico are rewriting rules on how to share water from the Colorado River, capping a five-year effort to form a united front against future drought in their western states.

GIVE AND TAKE: Mexico gains rights to put some of its river water in Lake Mead, which stretches across Nevada and Arizona, giving it badly needed storage capacity, and it will forfeit some of its share of the river during shortages, bringing itself in line with western U.S. states.

DOLLARS FOR WATER: Water agencies in California, Arizona and Nevada also will buy water from Mexico, which will use some of the money to upgrade its infrastructure.