North American stock markets surge on liquidity injection from central banks

S&P/TSX composite index closed up 132.97 points on Tuesday

North American stock markets surged for the first time since the start of the coronavirus following hefty liquidity injections from the world’s largest central banks.

The S&P/TSX composite index closed up 132.97 points at 17,512.73.

In New York, the Dow Jones industrial average was up 407.82 points at 28,807.63. The S&P 500 index was up 48.67 points at 3,297.59, while the Nasdaq composite was up 194.57 points or 2.1 per cent at 9,467.97.

The Canadian dollar traded for US75.31¢ compared with an average of US75.33¢ on Monday.

The March crude contract was down US50¢ at US$49.61 per barrel and the March natural gas contract was up US5.3¢ at US$1.87 per mmBTU.

The April gold contract was down US$26.90 at US$1,555.50 an ounce and the March copper contract was up US3.5¢ at US$2.54 a pound.