Canada’s main stock index experienced a notable increase of over 100 points in late-morning trading, buoyed by a rally in commodity stocks, primarily driven by rising oil and gold prices. The S&P/TSX composite index rose by 124.72 points, reaching 33,127.42.
Meanwhile, U.S. stock markets displayed a mixed performance. The Dow Jones Industrial Average saw a decline of 249.76 points, settling at 49,134.25. In contrast, the S&P 500 index gained 13.30 points, climbing to 6,926.65, while the Nasdaq composite enjoyed a robust increase of 137.87 points, reaching 23,573.89.
In currency markets, the Canadian dollar was valued at 72.77 cents US, an increase from 72.47 cents US observed the previous day.
On the commodities front, the March crude oil contract appreciated by US$1.52, trading at US$60.88 per barrel. Additionally, the February gold contract surged by US$61.60, reaching US$4,975.00 an ounce, reflecting a strong demand for precious metals as investors seek safe-haven assets amidst market fluctuations.
Overall, the trading day highlighted the resilience of the Canadian market, supported by commodities, while the U.S. indices presented a more varied landscape, reflecting investor sentiment and economic indicators.
