Canadian Stocks Show Modest Move To The Upside

(RTTNews) - Canadian stocks move modestly higher in morning trading on Friday and managed to remain in positive territory throughout the afternoon.

The S&P/TSX Composite Index rose 35.17 points or 0.2 percent to 16,404.00, extending the upward move seen in the previous session.

The modest strength on Bay Street came after a statement from the U.S. Trade Representative's office said the U.S. and China have made progress toward finalizing a phase one trade deal.

The statement was released by the USTR following a phone call between U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He.

"They made headway on specific issues and the two sides are close to finalizing some sections of the agreement," the USTR said. "Discussions will go on continuously at the deputy level, and the principals will have another call in the near future."

The upbeat comments about the trade talks added to the positive sentiment seen in reaction to the latest batch of earnings.

Healthcare stocks helped to lead the way higher, driving the S&P/TSX Capped Health Care Index up by 1.9 percent.

Energy stocks also saw notable strength amid an increase by the price of crude oil, moving higher along with materials and telecom stocks.