TORONTO — In a significant late-morning trading session, Canada’s main stock index surged more than 400 points, driven primarily by impressive gains within the base metal sector. The S&P/TSX composite index recorded an increase of 427.33 points, bringing its total to 30,278.22. This uptick follows a pause in trading on Monday due to the Thanksgiving holiday observed in Canada.
Conversely, U.S. stock markets experienced a downward trend. The Dow Jones Industrial Average lost 10.05 points, settling at 46,057.53. The S&P 500 index witnessed a decline of 31.34 points, closing at 6,623.38. Meanwhile, the Nasdaq composite fell sharply, down 223.30 points to a total of 22,471.31.
On the currency front, the Canadian dollar was valued at 71.21 cents against the U.S. dollar, a slight decrease from 71.43 cents on the preceding Friday. In commodities, oil prices also faced downward pressure, with the November crude oil contract falling by US$1.16 to reach US$58.33 per barrel. However, the December gold contract showed resilience, climbing up US$17.40 to a notable price of US$4,150.40 per ounce.
Market analysts are closely monitoring these developments, particularly the contrasting performances of Canadian and U.S. indices, as well as fluctuations in commodity prices and currency values.
