Canadian stocks closed higher on optimism about potential U.S.-China trade deal.

From Nasdaq: 2025-05-09 16:28:00

Canadian stocks rose on Friday, with the S&P/TSX Composite Index gaining 0.4% to reach its highest level in over two months. Optimism about a potential U.S.-China trade deal ahead of talks this weekend boosted the market, despite President Trump’s suggestion of an 80% tariff on China. Gold stocks surged 3.3% due to a rise in gold prices, while energy stocks also saw significant gains. Telecom stocks performed well, but technology stocks declined. Statistics Canada reported a small increase in employment in April, with the unemployment rate rising to 6.9% from 6.7% in March.



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