North American stock markets rise on renewed interest rate cut fever

North American stock markets rise on renewed interest rate cut fever
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TORONTO — North American stock markets closed higher with U.S. markets hitting record highs on further anticipation of U.S. interest rate cuts later this month.

The S&P/TSX composite index rose 104.91 points to 16,576.20.

In New York, the Dow Jones industrial average was up 179.32 points at 26,966.00. The S&P 500 index was up 22.81 points at 2,995.82, while the Nasdaq composite was up 61.14 points at 8,170.23.

The Canadian dollar traded for an average of 76.49 cents US compared with an average of 76.25 cents US on Tuesday.

The August crude contract was up US$1.09 at US$57.34 per barrel and the August natural gas contract was up five cents at US$2.29 per mmBTU.

The August gold contract was up US$12.90 at US$1,420.90 an ounce and the September copper contract was up 1.9 cents at US$2.68 a pound.

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

The Canadian Press

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