North American stock markets open trading higher, price of oil trades up

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TORONTO — North American stock markets surged higher at the start of trading as the price of oil also moved up after plunging in recent days.

The S&P/TSX composite index was up 232.27 points at 14,172.33.

In New York, the Dow Jones industrial average was up 387.24 points at 23,406.12. The S&P 500 index was up 48.01 points at 2,784.57, while the Nasdaq composite was up 155.58 points at 8,418.81.

The Canadian dollar traded for 70.76 cents US compared with an average of 70.41 cents US on Tuesday.

The June crude contract was up US$2.50 at US$14.07 per barrel and the May natural gas contract was up two cents at US$1.84 per mmBTU.

The June gold contract was up US$39.70 at US$1,727.50 an ounce and the May copper contract was up five cents at US$2.28 a pound.

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