TORONTO — North American stock markets surged higher in late-morning trading and the price of oil rose as businesses have slowly started to open up again after being shut down due to the pandemic.
The S&P/TSX composite index was up 154.90 points at 15,040.38.
In New York, the Dow Jones industrial average was up 428.67 points at 24,635.53. The S&P 500 index was up 55.45 points at 2,978.39, while the Nasdaq composite was up 191.49 points at 9,376.59.
The Canadian dollar traded for 72.00 US compared with an average of 71.98 cents US on Tuesday.
The July crude contract was up 95 cents at US$32.91 per barrel and the June natural gas contract was up a penny at US$1.84 per mmBTU.
The June gold contract was up US$4.00 at US$1,749.60 an ounce and the July copper contract was up three cents at nearly US$2.45 a pound.
This report by The Canadian Press was first published May 20, 2020.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)
The Canadian Press