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Canadian Stocks Seeing Modest Weakness In Mid-Day Trading

After trending higher in recent sessions, Canadian stocks are seeing modest weakness in mid-day trading on Thursday.

The benchmark S&P/TSX Composite Index has climbed off its worst levels of the day but remains down 21.27 points or 0.1 percent at 16,009.97.

The modest weakness on the day comes following the release of a batch of largely disappointing U.S. economic data.

Selling has remained subdued, however, as traders continue to express optimism about trade talks between the U.S. and China.

A report from Reuters said the two sides have started to outline commitments in principle on the stickiest issues in their trade dispute.

While the U.S. and China remain far apart on demand for structural changes to China's economy, sources familiar with the negotiations told Reuters the broad outline of what could make up a deal is beginning to emerge from the talks.

A separate report from CNBC indicating Chinese authorities could be getting ready to implement more extensive stimulus measures in a bid to encourage economic growth is also helping to limit the downside by stocks.

Nonetheless, notable decreases by the prices of crude oil and gold are weighing on energy and materials stocks.

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