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    21:21pm 19th May 2017

    Stocks Rally Along With Crude Oil Prices — Canadian Commentary

    WASHINGTON (Alliance News) – Canadian stocks stormed back Friday to end a topsy turvy week on a high note, as markets pooh-poohed the latest stories in the ongoing Donald Trump -Russia saga.

    Trump was quoted in the New York Times as calling now-fired FBI Director Michael Flynn a “nut job” at his controversial meeting with Russia diplomats at the White House.

    Meanwhile, a White House official is being investigated by US authorities in their probe of Russian interference in the November election, the Washington Post reports.

    Traders took the news in stride, as energy stocks rallied on higher oil prices.

    June WTI oil settled at USD50.33/bbl, up 98 cents, or 2% for the session. Prices jumped 5% this week, as traders ignored speculation that President Trump’s pro-growth economic plan could be de-railed by recent scandals.

    Financials rose 0.9% on hopes the worst is over for Home Capital Group (HCG.TO).

    All told, the TSX Composite Index jumped 181.26 points, or 1.19%, to 15,458.46. Gauges of all sectors were in the green today.

    Copyright RTT News/dpa-AFX