North American stock markets bounce back, loonie trades down against U.S. dollar

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TORONTO — Gains in the financial and industrial sectors helped lift Canada’s main stock index higher in late-morning trading, while U.S. stock markets also surged higher to regain some of the ground lost last week amid concerns about the new coronavirus and its impact on the global economy.

The S&P/TSX composite index was up 76.19 points 17,394.68.

In New York, the Dow Jones industrial average was up 265.46 points at 28,521.49. The S&P 500 index was up 31.97 points at 3,257.49, while the Nasdaq composite was up 133.50 points at 9,284.44.

The Canadian dollar traded for 75.36 cents US compared with an average of 75.57 cents US on Friday.

The March crude contract was down 61 cents at US$50.95 per barrel and the March natural gas contract was down 2.2 cents at US$1.819 per mmBTU.

The April gold contract was down US$9.00 at US$1,578.90 an ounce and the March copper contract was up 1.20 cents at US$2.5290 a pound.

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