Canadian stocks have lost $97 billion in August, a month in which stocks normally rise

The countdown begins. With five trading days left to the end of August, Canada’s key stock benchmark is set for a loss — in a month that’s typically up.

On Monday morning, at least, bulls were back in charge, with the TSX climbing 0.7 per cent as of 9:53 a.m. in Toronto. The picture brightened after U.S. President Donald Trump said the prospects for a deal with China were better now than at any time since negotiations began last year, even as a top state-media editor in Beijing questioned his version of events.

“It’s ridiculous what’s going on out there,” Andrew McCreath, chief executive officer at Forge First Asset Management Inc., said Monday on BNN Bloomberg TV. “We were way down last night, we’re up decently this morning. All because Trump tweets away and meanwhile China doesn’t say very much.”

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