TORONTO - Canada's main stock index closed up sharply following a two-day holiday, while U.S. markets rebounded from a steep drop in early trading to end higher after strong gains a day earlier.
The S&P/TSX composite index closed up 385.02 points, or 2.79 per cent, at 14,165.21 following the Christmas and Boxing Day holidays.
In New York, the Dow Jones industrial average closed up 260.37 points at 23,138.82. The S&P 500 index ended up 21.13 points at 2,488.83, while the Nasdaq composite ended up 25.14 points at 6,579.49. On Wednesday, the Dow and S&P 500 were up nearly five per cent while the Nasdaq rose 5.8 per cent.
The Canadian dollar traded at 73.31 cents US, down compared with an average of 73.59 cents US on Monday.
The February crude contract closed down US$1.61 from Wednesday at US$44.61 per barrel, but up from $42.53 on Monday. The February natural gas contract closed up nine cents from Wednesday at US$3.55 per mmBTU, up from $3.42 on Monday.
The February gold contract closed up US$8.10 from Wednesday at US$1,281.10 an ounce, and up from $1,271.80 on Monday. The March copper contract closed down three cents from Wednesday at US$2.67 a pound, up from US$2.66 on Monday.
Index and currency in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press