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Stocks Rally Along With Crude Oil Prices -- Canadian Commentary

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 U.S. 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 $50.33/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 percent 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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