Canada's S&P/TSX Composite Index Extends Winning Streak To Six Days

(RTTNews) - Canadian stocks saw moderate strength during trading on Tuesday, extending the upward trend seen over the past several sessions.

The benchmark S&P/TSX Composite Index rose 84.68 points or 0.3 percent to 25,616.86 closing higher for the sixth straight session and reaching its best closing level in almost three months.

Energy stocks helped lead the way higher, with the S&P/TSX Capped Energy Index jumping by 1.8 percent amid an extended surge by the price of crude oil.

Crude for June delivery spiked $1.72 or 2.8 percent to $63.67 a barrel after soaring $4.25 or 7.4 percent over the three previous sessions.

Technology stocks also saw some strength on the day, while telecom and healthcare stocks showed notable moves to the downside.

The strength on Bay Street came as traders continued to react positively to news the U.S. and China reached a trade deal that drastically reduces the massive tariffs on each other's goods.

The White House said the agreement calls for the U.S. and China to each lower tariffs by 115 percent while retaining an additional 10 percent tariff.

The U.S. will retain tariffs imposed in response to the fentanyl national emergency, resulting in an effective tariff rate on Chinese goods of 30 percent.