Major North American indexes made gains as a potential U.S.-China trade deal neared and oil prices advanced.

The S&P/TSX composite index climbed 5.16 points to 16,897.34, led by the energy sector

In New York, the Dow Jones industrial average advanced 146.97 points to 27,649.78. The S&P 500 index rose 19.56 points to 3,112.76, while the Nasdaq composite gained 46.03 points to 8,566.67.

The Canadian dollar traded for US75.63¢ compared with an average of US75.18¢ on Tuesday.

The January crude contract gained US$2.33 to US$58.43 per barrel and the January natural gas contract shed 4.2 cents to roughly US$2.40 per mmBTU.

The February gold contract fell US$4.20 to US$1,480.20 an ounce and the March copper contract advanced 3.6 cents to about US$2.66 a pound.