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S&P/TSX composite surges higher in early trading, U.S. stock markets also rally

TORONTO — Canada’s main stock index posted a triple-digit advance in early trading in a broad-based rally led by the industrial and utility sectors, while U.S. stock markets also surged higher.

The S&P/TSX composite index was up 253.80 points to 16,252.54.

In the U.S., the Dow Jones industrial average was up 364.22 points to 28,211.88. The S&P 500 index was up 61.44 points to 3,504.88, while the Nasdaq composite index was up 255.45 points to 11,846.25.

The Canadian dollar was trading at 76.59 cents US compared to an average of 76.12 cents US on Wednesday.

The December crude oil contract was down 24 cents at US$38.91 per barrel and the December natural gas contract was up nearly three cents at US$3.07 per mmBTU.

The December gold contract was up US$33.30 at US$1,929.50 an ounce and the December copper contract was up nearly a penny at nearly US$3.12 a pound.

This report by The Canadian Press was first published Nov. 5, 2020.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press

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