May 25th, 2017

Toronto, New York stock indexes stage rally, oil breaks $50 barrier

By The Canadian Press on May 19, 2017.

TORONTO – North American stock indices rallied ahead of the Victoria Day long weekend as oil broke the $50 barrier for the first time in nearly a month.

The July crude contract was up $1.01 to US$50.67 per barrel.

In Toronto, the S&P/TSX composite index advanced 181.26 points to 15,458.46, recouping much of its nearly 300-point fall Wednesday.

On Wall Street, the Dow Jones industrial average gained 141.82 points to 20,804.84, the S&P 500 index added 16.01 points to 2,381.73 and the Nasdaq composite index rose 28.57 points to 6,083.70.

The Canadian dollar gained 0.36 of U.S. cent to an average price of 73.83 cents US.

Elsewhere in commodities, the June gold contract rose 80 cents to US$1,253.60 an ounce, the June natural gas contract gained 7.4 cents to about US$3.26 per mmBTU and the July copper contract advanced five cents to US$2.58 a pound.

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