North American stock markets move higher on fading concerns about virus impact

S&P/TSX composite index closed up 85.08 points on Monday

North American stock markets started the week higher on fading concerns about the novel coronavirus as Chinese factories set to reopen.

The S&P/TSX composite index closed up 85.08 points at 17,740.57.

In New York, the Dow Jones industrial average was up 174.31 points at 29,276.82. The S&P 500 index was up 24.38 points at 3,352.09, while the Nasdaq composite was up 107.88 points at 9,628.39.

The Canadian dollar traded for US75.08¢ compared with an average of US75.16¢ on Friday.

The March crude contract was down US75¢ at US$49.57 per barrel and the March natural gas contract was down US9.2¢ at US$1.77 per mmBTU.

The April gold contract was up US$6.10 at US$1,579.50 an ounce and the March copper contract was down 0.25 of a cent at US$2.55 a pound.