Things in Toronto and New York City are off to a hot start this morning.
As expected North American markets are getting a big boost on the backs of oil and a trade war truce. Over the weekend the world’s two biggest economies agreed to a trade war ceasefire.
The United States and China won’t be slapping each other with any more tariffs for the next 90 days while negotiating out existing trade disputes.
On top of that oil prices are up on the back of Alberta’s announced production cut and an expected announcement from OPEC later this week announcing cuts of its own.
At press time the TSX is up 95 points to 15,293 while the Dow Jones is up 299 points to 25,838. Oil is up $2.06 to $52.99 U.S. per barrel, gold is up $13.30 to $1,239.30 an ounce, and the loonie is up close to a full cent, sitting at 75.86 cents U.S.