January 17th, 2021

North American stock markets climb to record highs as blue wave raises spending hopes


By The Canadian Press on January 7, 2021.

TORONTO – Stock markets across North America, including Canada’s main index, surged to record highs on anticipation that a Democratic wave in the U.S. will result in greater stimulus spending.

The S&P/TSX composite index surpassed 18,000 for the first time and closed up 199.46 points to 18,027.57.

In New York, the Dow Jones industrial average was up 211.73 points at 31,041.13. The S&P 500 index was up 55.65 points at 3,803.79, while the Nasdaq composite was up 326.69 points at 13,067.48.

The Canadian dollar traded for 78.70 cents US compared with 78.83 cents US on Wednesday.

The February crude contract was up 20 cents at US$50.83 per barrel and the February natural gas contract was up 1.3 cents at US$2.73 per mmBTU.

The February gold contract was up US$5 at US$1,913.60 an ounce and the March copper contract was up 4.55 cents at nearly US$3.70 a pound.

This report by The Canadian Press was first published Jan. 7, 2021.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

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