Toronto and U.S. stock markets rally after Irma damage less than expected

 

TORONTO _ North American stock market indexes jumped today after hurricane Irma weakened without causing as much damage as feared.

The S&P/TSX composite index was up 54.98 points to 15,040.30, with most sectors rallying.

In New York, the Dow Jones industrial average soared 259.58 points to 22,057.37. The S&P 500 index was up 26.68 points to 2,488.11 and the Nasdaq composite index climbed 72.07 points to 6,432.26.

In another sign investors were willing to take more risks, the December gold contract fell $15.50 to US$1,335.70 an ounce.

The Canadian dollar was trading at an average price of 82.45 cents US, up 0.02 of a U.S. cent.

Elsewhere in commodities, the October crude contract advanced 59 cents to US$48.07 per barrel. The October natural gas contract gained six cents to US$2.95 per mmBTU and the December copper contract added two cents to US$3.07 a pound.

 

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