North American stocks jumped at the open on Tuesday as signs that Washington was nearing a deal on a $2-trillion rescue package for the coronavirus emergency gave a shot of optimism to markets reeling under the biggest selloff since the global financial crisis.
The Dow Jones Industrial Average rose 1,130.26 points, or 6.08 per cent, at the open to 19,722.19. The S&P 500 opened higher by 107.04 points, or 4.78 per cent, at 2,344.44. The Nasdaq Composite gained 335.47 points, or 4.89 per cent, to 7,196.15 at the opening bell.
Get weekly money news
READ MORE: Is Ottawa doing enough to save the economy?
In Toronto, Canada’s benchmark S&P/TSX composite index was up 718.30 points at 11,946.79.
The Canadian dollar traded for 69.16 cents US compared with an average of 69.05 cents US on Monday.
- Central Alberta carbon capture hub on track to be largest in Canada
- Enbridge makes US$2.55B acquisition of pipeline, storage systems in U.S. midwest
- Choose Canada, businesses urge Albertans ahead of ‘risky gamble’ referendum
- Alberta landowners challenge ‘chronic underfunding’ for orphan well cleanup
READ MORE: What will happen to Canada’s housing market amid the pandemic?
The May crude contract was up 97 cents at US$24.33 per barrel and the May natural gas contract was up 6.7 cents at US$1.740.
The April gold contract was up US$107.50 at US$1,675.10 an ounce and the May copper contract was up 10.95 cents at US$2.2100 a pound.
— With files from the Canadian Press
Comments
Want to discuss? Please read our Commenting Policy first.