Financial sector boosts S&P/TSX composite, U.S. markets also surge higher

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TORONTO — The financial sector led the way as Canada’s main stock index surged higher at the start of trading today, while U.S. stocks also gained ground.

The S&P/TSX composite index was up 277.19 points at 14,176.51.

In New York, the Dow Jones industrial average was up 490.49 points at 24,028.17. The S&P 500 index was up 47.66 points at 2,847.21, while the Nasdaq composite was up 56.88 points at 8,589.24.

The Canadian dollar traded for 71.23 cents US compared with an average of 70.81 cents US on Thursday.

The June crude contract was down 67 cents at US$24.86 per barrel and the May natural gas contract was up nine cents at nearly US$1.78 per mmBTU.

The June gold contract was down US$10.30 at US$1,721.40 an ounce and the May copper contract was up nearly six cents at nearly US$2.35 a pound.

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