Canada’s main stock index closed at its highest level in six weeks on renewed hope of a U.S.-China trade deal and reduced fears of a recession.

The S&P/TSX composite index gained 125.97 points to close at 16,574.81.

In New York, the Dow Jones industrial average ended up 372.68 points at 26,728.15. The S&P 500 index was up 38.22 points at 2,976.00, while the Nasdaq composite was up 139.95 points at 8,116.83.

The Canadian dollar traded for an average of US75.60¢ compared with an average of US75.40¢ on Wednesday.

The October crude contract was up US4¢ at US$56.30 per barrel and the October natural gas contract was down US1¢ at US$2.44 per mmBTU.

The December gold contract was down US$34.90 at US$1,525.50 an ounce and the December copper contract was up US4.7¢ at US$2.64 a pound.