MID-DAY: Newly inked USMCA deal boosts markets in North America; oil continues rally
The markets in North America are rallying as the ink dries on a new trade agreement. The newly named USMCA is helping boost the TSX by 38 points to 16,112 and across the border the Dow is rocketing 259 points to 26,717.
The Loonie is also gaining strength, pushing to 77.96 cents US.
Many of Canada’s sectors that rely on trade have seen movement, with companies like Hudson’s Bay, Canadian National Railway and Canadian Tire all getting a positive boost.
Meanwhile, the price of crude continues its own rally as supply is being outweighed by demand. The price of US crude is up to 73-67 a barrel.