S&P/TSX composite up more than 600 points, U.S. stocks also rally higher
Global News
The S&P/TSX composite index was up 633.83 points at 19,978.08.
Canada’s main stock index was up more than 600 points in a broad-based rally, while U.S. stock markets also stormed higher after a report showing the annual pace of inflation in the United States eased in October.
The S&P/TSX composite index was up 633.83 points at 19,978.08.
In New York, the Dow Jones industrial average was up 938.04 points at 33,451.98. The S&P 500 index was up 165.51 points at 3,914.08, while the Nasdaq composite was up 607.09 points at 10,960.27.
The Canadian dollar traded for 74.77 cents US compared with 74.18 cents US on Wednesday.
The December crude contract was up 82 cents at US$86.65 per barrel and the December natural gas contract was up 23 cents at US$6.09 per mmBTU.
The December gold contract was up US$37.10 at US$1,750.80 an ounce and the December copper contract was up eight cents at US$3.78 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.