TORONTO – Strength in utility and technology stocks helped Canada’s main stock index gain more than 100 points in late-morning trading, while the loonie declined after the latest comments by U.S. President Donald Trump about the possibility of tariffs on Canadian goods coming on Feb. 1.
The S&P/TSX composite index was up 128.08 points at 25,299.66.
In New York, the Dow Jones industrial average was up 415.95 points at 43,903.78. The S&P 500 index was up 31.72 points at 6,028.38, while the Nasdaq composite was up 26.36 points at 19,656.56. U.S. stock markets were closed Monday for Martin Luther King Jr. Day.
The Canadian dollar traded for 69.60 cents US compared with 69.78 cents US on Monday after Trump said he’s thinking about hitting Canada and Mexico with 25 per cent tariffs on Feb. 1.
The March crude oil contract was down US$1.29 at US$76.10 per barrel and the February natural gas contract was down 16 cents at US$3.79 per mmBTU.
The February gold contract was up US$5.10 at US$2,753.80 an ounce and the March copper contract was down four cents at US$4.33 a pound.
This report by The Canadian Press was first published Jan. 21, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
