TORONTO — Canada’s main stock index closed up along with U.S. markets Tuesday as investors saw reason for optimism on the trade front.
The S&P/TSX composite index was trading down earlier in the day and U.S. markets were mixed, but that shifted as U.S. Commerce Secretary Howard Lutnick said the country had reached a trade deal, while U.S. President Donald Trump was expected to soften the tariff hit to the auto sector.
“I think generally in the U.S. we are getting a little bit of better tone and sentiment around trade,” said Mona Mahajan, head of investment strategy at Edward Jones.
“It does feel like progress on trade is moving in the right direction. There’s a cool-down in the temperature as well, not only on trade, but around central bank independence and Fed independence in particular.”
The Canadian election being over is also a help, she said.
“Not a huge surprise to see Carney emerge as the victor here, but perhaps…
