Canadian Stocks Move Modestly Higher After Early Volatility

(RTTNews) - Canadian stocks showed a lack of direction early in the session but moved modestly higher over the course of the trading day.

The benchmark S&P/TSX Composite Index ended the day up 75.89 points or 0.3 percent at 24,874.48, climbing into positive territory in afternoon trading after spending the morning lingering near the unchanged line.

With the upward move, the index closed higher for the fifth time in the past six sessions, reaching its highest closing level in almost a month.

The strength that emerged on Bay Street came as stocks south of the border advance following positive developments on the trade front, with U.S. Commerce Secretary Howard Lutnick telling CNBC the Trump administration had reached its first trade deal.

Lutnick declined to name the country involved but said he expects their prime minister and parliament to give their approval "shortly."

U.S. Treasury Secretary Scott Bessent also told reporters the U.S. is "very close" to a trade deal with India, has had "substantial talks" with Japan and has "the contours of a deal" with South Korea.

Healthcare stocks helped lead the way higher, with the S&P/TSX Capped Health Care Index climbing by 1.5 percent.

Telecom, financial and consumer discretionary stocks also moved to the upside, while gold stocks moved notably lower amid a decrease by the price of the precious metal.