TORONTO — Strength in the technology and base metal sectors helped Canada’s main stock index gain more than 300 points in late-morning trading, while U.S. stock markets also posted triple-digit gains.
The move on the markets came as U.S. Federal Reserve chair Jerome Powell edged open the door to lowering interest rates in the coming months at a speech in Jackson Hole, Wyo.
The S&P/TSX composite index was up 337.34 points at 28,392.77.
In New York, the Dow Jones industrial average was up 891.02 points at 45,676.52. The S&P 500 index was up 104.60 points at 6,474.77, while the Nasdaq composite was up 424.76 points at 21,525.07.
The Canadian dollar traded for 72.28 cents US compared with 71.96 cents US on Thursday.
The October crude oil contract was up 17 cents US at US$63.69 per barrel, while the December gold contract was up US$40.70 at US$3,422.30 an ounce.
— With files from The Associated Press
This report by The…
