Report showing slowing inflation lifted North American stock markets into weekend
Report showing slowing inflation lifted North American stock markets into weekend
Currency traders watch computer monitors near the screens showing the Korea Composite Stock Price Index, left, and the foreign exchange rate between the U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, May 27, 2022. (AP Photo/Lee Jin-man)
TORONTO -
A report showing that U.S. inflation slowed a bit last month caused North American stock markets to rally strongly into the weekend.
The S&P/TSX composite index closed up 216.40 points to 20,748.58.
In New York, the Dow Jones industrial average was up 575.77 points at 33,212.96. The S&P 500 index was up 100.40 points at 4,158.24, while the Nasdaq composite was up 390.48 points or 3.3 per cent at 12,131.13.
The Canadian dollar traded for 78.51 cents US compared with 78.17 cents US on Thursday.
The July crude oil contract was up 98 cents at US$115.07 per barrel and the July natural gas contract was down 16.8 cents at US$8.73 per mmBTU.
The August gold contract was up US$3.40 at US$1,857.30 an ounce and the July copper contract was up 4.8 cents at US$4.31 a pound.
This report by The Canadian Press was first published May 27, 2022
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