North American stock markets roar back to life on hopes of stimulus, virus signs

North American stock markets roar back to life on hopes of stimulus, virus signs
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TORONTO — North American stock markets roared back to life on hopes of a massive U.S. government stimulus package and positive data from Italy regarding the novel coronavirus outbreak.

The S&P/TSX composite index closed up 1,342.59 points or almost 12 per cent at 12,571.08.

In New York, the Dow Jones industrial average enjoyed its largest daily gain since 1933 by rising 2,112.98 points or 11.3 per cent at 20,704.91. The S&P 500 index was up 209.93 points at 2,447.33, while the Nasdaq composite was up 557.18 points at 7,417.86.

The Canadian dollar traded for 69.01 cents US compared with an average of 69.05 cents US on Monday.

The May crude contract was up 65 cents at US$24.01 per barrel and the May natural gas contract was up 5.6 cents at US$1.73 mmBTU.

The April gold contract was up US$93.20 at US$1,660.80 an ounce and the May copper contract was up 7.95 cents at US$2.18 a pound.

This report by The Canadian Press was first published March 24, 2020.

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

 

The Canadian Press

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