MID-DAY: North American markets rebound from Wednesday losses; China plans trip to Washington
North American markets are on the rebound after hitting a slump on Wednesday.
On Bay Street, the TSX is gaining 115 points to 16,264. This is, in part, thanks to a StatsCan report showing an increase of 1.1 per cent in manufacturing in June. The boost came from rebounds in oil and coal demand.
Across the border, the Dow is erasing yesterday’s losses as it pushes 347 points to 25,510.
Experts say investor confidence is growing after China announced plans to travel to Washington for trade talks. The two sides have been ramping up tariff threats over trade tension.
Another surprise report on US crude stock increases hit the price of oil once again this week. The price of US crude is slightly gaining to 65.38 a barrel after dropping Wednesday.