TSX Rises Along With Oil Prices -- Canadian Commentary

(RTTNews) - Canadian stocks rose sharply Monday, following crude oil prices higher amid optimism about the global economy.

Traders shrugged off the escalating war of words between the Trump Administration and Canada regarding NAFTA and other trade measures.

President Donald Trump has criticized Canada and Mexico, and suggested that the neighboring countries could avoid forthcoming tariffs if they agree to a renegotiated trade deal.

Trump lashed out against two of America's top trading partners in a couple of Monday morning posts on Twitter.

He called on the Canadian Government to treat US farmers "much better" as their policies are "Highly restrictive".

The TSX Composite Index was up 156.69 points to 15,541.28.

The loonie dropped to its lowest in eight months versus the U.S. dollar.

Shopify (SHOP.TO) has named Amy Shapero as CFO to replace Russ Jones

Canadian National Rail CEO Luc Jobin abruptly quit, it was announced today. The Board has appointed Jean-Jacques Ruest Interim President and CEO.

Crude oil prices rallied above $62 a barrel on supply interruptions from Libya. Meanwhile, the IEA said the US will be the world's top oil producer within five years.