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TSX Stays Afloat on Trade Hope

Equities in Canada's largest market continued higher by noon ET on Monday, led by industrial stocks and tracking global equities, on signs of the United States and China making progress towards resolving their trade dispute.

The TSX Composite Index gained 49.89 points to 16,427.01

The Canadian dollar added 0.55 cents at 76.32 cents U.S.

The largest percentage gainers on the TSX were Knight Therapeutics, which jumped 85 cents, or 11.3%, to $8.36, and Hudsons Bay Co , which rose 60 cents, or 6.3%, to $10.05

Hexo Corp fell 22 cents, or 6.1%, the most on the TSX, to $3.38, while the second-biggest decliner was Aphria Inc, which fell 11 cents, or 1.8%, to $6.13.

ON BAYSTREET

The TSX Venture Exchange regained 0.55 points to 542.98,

All but three of the 12 Toronto subgroups were positive midday, led by information technology, ahead 1.6%, while industrials and energy each picked up 0.9%.

The three laggards were gold, down 2.3%, materials, down 1.3%, andhealth-care, sliding 0.3%

ON WALLSTREET

Stocks traded higher on Monday, boosted by optimism around U.S.-China trade talks as well as the corporate earnings season.

The Dow Jones Industrial Average regained 21.68 points to reach noon at 26,791.88.

The S&P 500 tallied 14.92 points to 3,001.17. The NASDAQ Composite re-strengthened 61.63 points to 8,151.46.

Apple shares led the Dow higher, rising more than 1% to a record high after an analyst at Raymond James hiked his price target on the tech giant to $380 per share from $250. Those gains offset a 3.8% drop in Boeing's stock.

Investors were also focused on the corporate earnings season, with more than 120 S&P 500 companies on deck to report. McDonald's, Ford Motor, Boeing and Caterpillar are among the companies set to release their results.

The earnings season got off to a strong start as companies such as J.P. Morgan Chase, Bank of America, Netflix and Citigroup posted better-than-expected results. To be sure, companies are beating muted estimates. Analysts expect overall S&P 500 earnings for the third quarter to have fallen by 4.7%.

Cadence Design Systems, Celanese and Zions Bancorp are among some of the companies poised to report their latest quarterly figures after the market close Monday.

Chinese Vice Premier Liu He said over the weekend Beijing would work with the U.S. to address one another's trade concerns. He also said both sides have made "substantial progress" on trade. China's chief negotiator in the trade talks also said that stopping the trade war would be good for both countries — as well as the global economy.

Prices for the benchmark 10-year U.S. Treasury dropped, raising yields to 1.79% from Friday's 1.76%. Treasury prices and yields move in opposite directions.

Oil prices skidded 78 cents to $53.00 U.S. a barrel.

Gold prices slumped $6.20 to $1,487.90 U.S. an ounce.

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