Canadian Stocks Climb To New Record Highs

(RTTNews) - After showing a lack of direction early in the session, Canadian stocks moved mostly higher over the course of the trading day on Wednesday.

The S&P/TSX Composite Index climbed 64.69 points or 0.4 percent to 17,100.57, ending the session at another new record closing high.

The markets continued to benefit from optimism about a potential U.S.-China trade deal after President Donald Trump said trade talks are "going very well."

"We're in the final throes of a very important deal — I guess you could say, one of the most important deals in trade ever," Trump told reporters at the White House on Tuesday.

Healthcare stocks helped to lead the markets higher as the day progressed, driving the S&P/TSX Capped Health Care Index up by 2 percent.

Consumer stocks also showed a strong move to the upside, with the S&P/TSX Capped Consumer Discretionary Index and the S&P/TSX Capped Consumer Staples Index jumping by 1.4 percent and 1 percent, respectively.

Notable strength also emerged among energy stocks, which moved higher despite a modest pullback by the price of crude oil.