S&P/TSX composite up more than 150 points, U.S. stock markets also rise
Global News
The S&P/TSX composite index was up 174.94 points at 20,010.69.
Strength in energy stocks as the price of oil topped US$80 per barrel helped lead a broad rally on the Toronto Stock Exchange as Canada’s main stock index rose more than 150 points, while U.S. stock markets also climbed higher.
The S&P/TSX composite index was up 174.94 points at 20,010.69.
In New York, the Dow Jones industrial average was up 162.97 points at 34,509.87. The S&P 500 index was up 16.94 points at 4,422.65, while the Nasdaq composite was up 67.10 points at 13,657.75.
The Canadian dollar traded for 73.57 cents US compared with 73.50 cents US on Friday.
The October crude contract was up 58 cents at US$80.41 per barrel and the October natural gas contract was up 10 cents at US$2.76 per mmBTU.
The December gold contract was up US$6.00 at US$1,945.90 an ounce and the December copper contract was up less than a penny at US$3.79 a pound.
The move by the United States Postal Service comes after some 55,000 Canada Post workers walked off the job more than two weeks ago.
The Canadian economy underperformed the Bank of Canada's call for 1.5 per cent annualized growth in the third quarter, and per-capita GDP fell for a sixth consecutive quarter.