12:13 PM EDT, 06/06/2024 (MT Newswires) -- The TSX is up 48 points with most sectors higher.

Miners and energy are the biggest gainers, both up 1%.

Financials, down 0.45%, is the biggest decliner, followed by technology, down 0.4%.

Oil prices rose for a second day early on Thursday as risk appetite is on the rise following interest-rate cuts by Canada and Europe.

Gold edged higher despite a steady dollar and rising treasury yields.

Natural gas rose to a two-week high ahead of fresh storage data as long-term forecasts warm, offering a boost to cooling demand.

The Bank of Montreal wrote in its morning note, that the Bank of Canada wants to make sure it doesn't lower rates too fast, and "the way down will be slower than the way up". BMO continues to call for follow-up moves (also of 25 bps) in September and December, but it will be keeping a very close eye on the next few inflation reports. BMO said its forecasts are flexible and data-dependent; and, like the BoC said, its decisions will be made "one meeting at a time"

Meanwhile, CIBC added today that Canada's goods trade deficit narrowed to $1.05 billion in April, as exports jumped. That was in line with consensus expectation and followed a revision to the prior month's deficit to $2 billion, from $2.3 billion previously.

"Markets didn't pay much attention to today's data, as the deficit was in line with expectations," CIBC said.

In stock news, fines against Toronto-Dominion Bank ( MLWIQXX ) (TD.TO, TD) tied to U.S. money-laundering probes may total as much as US$4 billion following fresh allegations involving the lender, according to Jefferies Financial Group analysts, Bloomberg News has reported, noting that is double previous estimates of the potential impact on Canada's second-largest lender.