S&P/TSX composite up nearly 400 points in late-morning trading, U.S. stocks also up

TORONTO — Gains in the technology and utility sectors helped lead a broad-based rally as Canada’s main stock index gained nearly 400 points in late morning trading and U.S. stock markets also rallied.

The S&P/TSX composite index was up 371.33 points at 18,697.68.

In New York, the Dow Jones industrial average was up 464.80 points at 30,099.63. The S&P 500 index was up 82.21 points at 3,665.28, while the Nasdaq composite was up 292.90 points at 10,614.29.

The Canadian dollar traded for 72.80 cents US compared with 72.17 cents US on Friday.

The December crude oil contract was up 65 cents at US$85.30 per barrel and the November natural gas contract was down 45 cents at US$6.00 per mmBTU.

The December gold contract was up US$19.20 at US$1,668.10 an ounce and the December copper contract was down nearly a penny at US$3.42 a pound.

This report by The Canadian Press was first published Oct. 17, 2022.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press