MID-DAY: Trade optimism pushes North American markets higher; Auto and crude stocks also feeling boost
A shift in trade sentiment between the US and China is giving investors some much-needed confidence. A recent tweet from Donald Trump suggested the President was feeling more optimistic about reaching a deal with China.
At the same time Beijing is reportedly considering cutting tariffs on US-made vehicles. Auto shares are getting a boost from the news.
This is also giving life to North American markets. The TSX is up 80 points to 14,808 and across the border on Wall Street, the Dow is growing 120 points to 24,543.
The mood swing is also pushing the price of crude higher, as US oil lifts to 52.27 a barrel.
The Loonie is slipping to 74.53 cents US.