Canadian Stocks Move Modestly Higher After Seeing Initial Weakness

(RTTNews) - After an initial move to the downside, Canadian stocks have moved modestly higher over the course of the trading session on Thursday.

The S&P/TSX Composite Index has inched up 11.45 points or 0.1 percent to 17,112.02, reaching a new record intraday high.

The turnaround by the markets partly reflects recent upward momentum, with optimism about a U.S.-China trade deal helping drive stocks on both sides of the border to record highs.

Trading activity has remained somewhat subdued, however, with the Thanksgiving Day holiday in the U.S. keeping some traders on the sidelines.

Healthcare stocks are extending the rally seen in the previous session, driving the S&P/TSX Capped Health Care Index up by 1.7 percent.

An increase by the price of gold is also contributing to strength among gold stocks, while most of the other major sectors are showing more modest moves.