MID-DAY: North American markets boosted by trade optimism; Stats Can reports a November billion-dollar trade deficit
Trade optimism is still keeping North American markets up today, but poor trade data has slightly soured Bay Street. The TSX is up 58 points to 14,562 following a triple digit gain to start the day, with most of the gains coming from an energy boost. But, a Stats Can report on trade showed Canada’s deficit grew to $2.1 billion in November, primarily because of a drop in oil prices.
Meanwhile, the Dow is up 145 points to 23,676 as US and Chinese officials discuss ongoing trade relations, aiming to have a deal in place by the end of February.
Trade positivity is pushing crude higher as US oil gains to 49.28 a barrel.
The Loonie is higher at 75.18 cents US.