TORONTO – Canada’s main stock index moved higher shortly after the open, while U.S. markets were mixed after U.S. Commerce Secretary Howard Lutnick suggested that some categories of goods including the auto sector might be exempted from the crippling U.S. tariffs on imports from Canada and Mexico imposed on Tuesday.
Strength in base metal stocks helped the S&P/TSX composite index gain 35.58 points at 24,607.58 in early trading after plunging more than 400 points on Tuesday.
In New York, the Dow Jones industrial average was up 66.83 points at 42,587.82. The S&P 500 index was up 2.68 points at 5,780.83, while the Nasdaq composite was down 16.77 points at 18,268.39.
The Canadian dollar traded for 69.61 cents US compared with 69.02 cents US on Tuesday.
The April crude oil contract was down US$1.74 at US$66.52 per barrel and the April natural gas contract was down three cents at US$4.32 per mmBTU.
The April gold contract was down US$7.70 at US$2,912.90 an ounce and the May copper contract was up 19 cents at US$4.75 pound.
This report by The Canadian Press was first published March 5, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
