North American stock markets open trading higher, oil surges, loonie up

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TORONTO — North American stock markets surged higher at the start of trading, while the price of oil also gained ground.

The S&P/TSX composite index was up 227.63 points at 15,025.92.

In New York, the Dow Jones industrial average was up 373.93 points at 24,475.48. The S&P 500 index was up 51.90 points at 2,915.29, while the Nasdaq composite was up 179.82 points at 8,787.55.

The Canadian dollar traded for 71.81 cents US compared with an average of 71.54 cents US on Tuesday.

The June crude oil contract was up US$3.14 at US$15.48 per barrel and the June natural gas contract was down nearly four cents at US$1.91 per mmBTU.

The June gold contract was down US$9.20 at US$1,713.00 an ounce and the July copper contract was up nearly four cents at US$2.38 a pound.