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TSX Set to Continue Winning Streak on US-China Trade Talk Hopes, Oil Price Hike

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Canada's benchmark index looked set for another day of gains, boosted by confidence over the ongoing trade talks between the US and China and by rising oil prices .

Action Economics said the US and China reportedly made substantial progress in trade talks. US President Donald Trump said he will meet with China's leader Xi Jinping soon to try and seal a deal.

Meanwhile, energy stocks could lead advancers during the session, as oil prices were steady on a report that OPEC has followed through on promises to cut production in order to quell an increase in global stockpiles.

In stocks, investors will keep an eye on Norbord (OSB.TO) and Imperial Oil (IMO.TO), which both reported their quarterly earnings, and Teck Resources (TECK-B.TO), which provided bleak financial outlook.

The TSX rose 28 points on Thursday, paced by materials.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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