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Canadian Stocks Extending Recent Upward Trend

Canadian stocks have moved moderately higher over the course of the trading session on Wednesday, extending the upward move seen over the past few days.

The benchmark S&P/TSX Composite Index is climbing 63.07 points or 0.4 percent to 16,000.51 after reaching its best intraday levels in over four months.

Materials stocks are showing another significant move to the upside, driving the S&P/TSX Capped Materials Index up by 1.4 percent.

A continued increase by the price of gold is contributing to the strength in the sector, with gold for April delivery rising $3.80 to $1,348.60 an ounce after spiking $22.70 to $1,344.80 an ounce on Tuesday.

Information technology and financial stocks are also seeing some strength on the day, while notable weakness is visible among healthcare stocks.

Meanwhile, stocks on Wall Street have moved modestly higher, although buying interest remains somewhat subdued amid uncertainty about U.S.-China trade talks.

Officials from the U.S. and China are meeting in Washington this week as the world's two largest economies attempt to reach a long-term trade deal.

The U.S. and China currently face an early March deadline to strike an agreement, although President Donald Trump has suggested the deadline could be postponed.

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