North American stock markets rally as Trump holds off on raising tariffs

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TORONTO — A broad-based rally helped Canada’s main stock index head higher in late-morning trading as U.S. markets also rallied as U.S. President Donald Trump agreed to hold off on raising tariffs on Chinese goods.

The S&P/TSX composite index was up 65.52 points at 16,078.53.

In New York, the Dow Jones industrial average was up 180.28 points at 26,212.09. The S&P 500 index was up 17.98 points at 2,810.65, while the Nasdaq composite was up 70.78 points at 7,598.33.

The Canadian dollar traded for 75.89 cents US compared with an average of 75.91 cents US on Friday.

The April crude contract was down US$1.46 at US$55.80 per barrel and the April natural gas contract was up 3.4 cents at US$2.773 per mmBTU.

The April gold contract was down US$1.10 at US$1,331.70 an ounce and the March copper contract was down 0.10 of a cent at US$2.9505 a pound.

 

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