NEWS
03/30/2016 11:44 EDT | Updated 03/31/2017 01:12 EDT

Loonie, TSX continue to rise sharply in morning trading

TORONTO — Canada's largest stock market continued to push higher this morning.

The Toronto Stock Exchange's S&P/TSX index was up 133.09 points or nearly one per cent at 13,559.32, building on a 36-point gain the previous session.

Markets turned positive Tuesday after Janet Yellen, chairwoman of the U.S. Federal Reserve, reiterated that the U.S. central bank would take a cautious approach to future interest rate hikes.

However, her remarks caused the U.S. dollar to weakened, pushing up the value of other currencies. The loonie was at 77.20 cents US this morning, up 0.66 of a U.S. cent from Tuesday's close and more than a cent over two days.

The Dow Jones industrial average rose 136.01 points to 17,769.12, the broader S&P 500 composite index advanced 14.76 points to 2,069.77 and the Nasdaq composite gained 43.68 points to 4,890.30.

The May crude contract was up 81 cents at US$39.09 per barrel and May natural gas was down nearly two cents at US$1.96. The June gold contract fell $8.20 to US$1,229.30 an ounce and May copper slipped 2.2 cents to US$2.19 a pound.

 

The Canadian Press