Markets: S&P/TSX composite rises, Nasdaq up 2.5 per cent

BUSINESS

S&P/TSX composite rises Thursday, U.S. markets gain with Nasdaq up 2.5 per cent

Published Thursday, March 16, 2023 7:09AM EDT Last Updated Thursday, March 16, 2023 4:45PM EDT

People are reflected in the window of the Australian Stock Exchange in central Sydney, Australia, March 16, 2023. (AP Photo/Mark Baker)

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TORONTO -- Markets in Canada and the U.S. climbed steadily Thursday in yet another reversal during a volatile week, with tech helping drive strength as well as some signs of recovery in embattled financial stocks.

The S&P/TSX composite index was up 160.17 points to 19,539.01.

In New York, the Dow Jones industrial average was up 371.98 points, or 1.2 per cent, to 32,246.55. The S&P 500 index was up 68.35 points, or 1.8 per cent, to 3,960.28, while the Nasdaq composite was up 283.33 points, or 2.5 per cent, to 11,717.28.

The Canadian dollar traded for 72.76 cents US compared with 72.58 cents US on Wednesday.

The April crude contract was up 74 cents at US$68.35 per barreland the April natural gas contract was up eight cents to US$2.51 per mmBTU.

The April gold contract was down US$8.30 at US$1923.0 an ounce and the May copper contract was up two cents to US$3.86 a pound.

This report by The Canadian Press was first published March 16, 2023.