North American stock market soar higher in late-morning trading, loonie gains

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TSX Stock Market

OTTAWA — North American stock markets soared higher in late-morning trading fuelled by positive news regarding a coronavirus vaccine from Pfizer and clarity on the outcome to the U.S. presidential election with the declaration of Democrat Joe Biden as president-elect on the weekend.

In Toronto, the S&P/TSX composite index was up 232.05 points to 16,514.88.

The Dow Jones industrial average was up 1,053.67 points to 29,377.07.

The S&P 500 index was up 88.88 points to 3,598.32, while the Nasdaq composite index was up 113.75 points to 12,008.95.

The Canadian dollar was trading at 77.08 cents US compared to an average of 76.69 cents US on Friday.

The December crude contract was up US$3.42 at US$40.56 per barrel and the December natural gas contract was down a penny at US$2.87 per mmBTU.

The December gold contract was down US$98.60 at US$1,853.10 an ounce and the December copper contract was down less than a penny at US$3.15 a pound.

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

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