Investor fears about a trade war have cooled off as White House officials say Canada and Mexico will likely be spared on tariffs against steel and aluminum imports. Trump was expected to sign the tariff paperwork today, but officials say that will likely be pushed to Friday now.

Across the border traders are watching WestJet shares as the company announced a significant shake up in management. The airliner CEO is stepping down immediately to retire and his place has been filled internally.

Bombardier shares have fallen back after the company announced a stock sale earlier this week.

In overnight trading, the Nikkei climbed half a per cent on the back of a high trade earnings report in China.

This morning gold has slumped from its gains as a safe haven for worrisome investors. The precious metal is down to 1,325 an ounce.

The price of oil is down to 61-02 a barrel.

The battered Loonie is slipping again to 77.24 cents US.