North American stock markets surge higher in late-morning trading, loonie up

North American stock markets surge higher in late-morning trading, loonie up
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TORONTO — The heavyweight industrial and materials sectors led a broad-based rally in late-morning trading as Canada’s main stock index posted a triple-digit advance, while U.S. stocks also surged higher.

The S&P/TSX composite index was up 146.53 points at 16,643.54.

In New York, the Dow Jones industrial average was up 240.85 points at 27,927.76. The S&P 500 index was up 43.59 points at 3,377.28, while the Nasdaq composite was up 214.90 points at 10,997.72.

The Canadian dollar traded for 75.50 cents US compared with 75.24 cents US on Tuesday.

The September crude contract was up 98 cents at US$42.59 per barrel and the September natural gas contract was down six cents at US$2.11 per mmBTU.

The December gold contract was up US$11.40 at US$1,957.70 an ounce and the September copper contract up nearly three cents at US$2.90 a pound.

This report by The Canadian Press was first published Aug. 12, 2020.

 

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

 

The Canadian Press


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