S&P/TSX composite rebounds from early losses on signs of strong economic recovery

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TORONTO — Canada's main stock index reversed early losses to close higher on signs of a quicker economic recovery that sent crude oil prices to a near two-year high.

The S&P/TSX composite index closed up 255.24 points to 18,380.96.

In New York, the Dow Jones industrial average gained 572.16 points to 31,496.30. The S&P 500 index rose 73.47 points at 3,841.94, while the Nasdaq composite was up 196.68 points at 12,920.15.

The Canadian dollar traded for 78.94 cents US compared with 79.13 cents US on Thursday.

The April crude oil contract was up US$2.26 at US$66.09 per barrel and the April natural gas contract was down 4.5 cents at US$2.70 per mmBTU.

The April gold contract was down US$2.20 at US$1,698.50 an ounce and the May copper contract was up 9.7 cents at nearly US$4.08 a pound.

This report by The Canadian Press was first published March 5, 2021.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press