Stock markets in Canada and the U.S. surged higher in late-morning trading after reports that a new round of U.S. tariffs scheduled to be implemented on April 2 might be narrower than first expected.
The S&P/TSX composite index was up 361.20 points at 25,329.69 as markets have been volatile amid the uncertainty regarding U.S. tariffs.
In New York, the Dow Jones industrial average was up 535.24 points at 42,520.59. The S&P 500 index was up 91.74 points at 5,759.30, while the Nasdaq composite was up 374.31 points at 18,158.36.
The Canadian dollar traded for 69.89 cents US compared with 69.70 cents US on Friday.
The May crude oil contract was up 70 cents US at US$68.98 per barrel and the May natural gas contract was unchanged at US$4.02 per mmBTU.
The April gold contract was down US$7.00 at US$3,014.40 an ounce and the May copper contract was up a penny US at US$5.12 a pound.
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