TSX Higher on Energy Hikes

Canada's main stock index opened higher on Monday as energy stocks were boosted by rising oil prices, which surged on hints of progress on a possible Sino-U.S. trade deal.

The S&P/TSX Composite Index gained 44.4 points, to open the last session of the year at 14,266.40

The Canadian dollar was down 0.01 cents at 73.29 U.S.

Large crowds have flocked to Canada Goose's new outdoor wear store in downtown Beijing, its first in mainland China, since its opening on Friday, despite sub-freezing temperatures and a chill in bilateral ties.

Canada Goose shares dashed ahead $3.19, or 5.6%, to $60.25.

ON BAYSTREET

The TSX Venture Exchange moved higher 4.87 points to 556.96

All but three of the 12 TSX subgroups began New Year’s Eve higher, as energy, consumer discretionary and real-estate stocks each sailed 0.9% higher

The three laggards were gold, down 0.7%, while health-care dropped 0.4%, and materials were off 0.2%.

ON WALLSTREET

Stocks traded higher on Monday on growing optimism surrounding U.S.-China trade talks as investors sought to end a volatile year.

The Dow Jones Industrials spiked 238.68 points, or 1%, to open Monday at 23,301.08, led by gains in Boeing and Walt Disney

The S&P 500 gained 17.44 points to 2,503.18, as the consumer discretionary and financials sectors outperformed.

The NASDAQ Composite flew 42.28 points to 6,626.81, as shares of Apple climbed 1.7%

Despite Monday’s gains, the major stock averages were on pace to post solid losses for the year. The Dow, S&P 500 and Nasdaq were all down at least 4.8% year to date through Friday’s close. That would mark their worst annual performance since 2008.

A sizable chunk of those losses came in December. The indexes are all down at least 9.5% for the month. The Dow and S&P 500 were also on track to record their worst December performance since 1931.

Over the weekend, President Donald Trump said he had a "very good call" with Chinese President Xi Jinping to discuss trade. The president also claimed that "big progress" was being made on this front. Trump’s statements sparked gains in markets worldwide.

However, The Wall Street Journal reported that Trump may be overstating how much progress was being made. The report cited people familiar with the situation. China and the U.S. agreed earlier this month to a 90-day grace period to try and work out their differences on trade.

Prices for the benchmark for the 10-year U.S. Treasury shot higher, lowering yields to 2.72% from Friday’s 2.72%. Treasury prices and yields move in opposite directions.

Oil prices gained 24 cents to $45.57 U.S. a barrel.

Gold prices moved higher 40 cents at $1,282.50 U.S. an ounce.