Wall Street opens higher but TSX lower after worst trading week since the financial crisis

Stock markets in the U.S. bounced back from recent losses on Monday (March 2), as the focus turned to assurances of central bank stimulus to counter the economic fallout from the coronavirus outbreak.

The Dow Jones Industrial Average rose 181.15 points, or 0.71 per cent, at the open to 25,590.51. The S&P 500 opened higher by 20.06 points, or 0.68 per cent, at 2,974.28. The Nasdaq Composite gained 99.78 points, or 1.16 per cent, to 8,667.14 at the opening bell.

Canada’s main stock index, however, edged lower in early trading as the trading week began following its worst week since the financial crisis. The S&P/TSX composite index was down 18.36 points at 16,244.69.

The Canadian dollar traded for 74.71 cents US compared with an average of 74.47 cents US on Friday.

The April crude contract was up US$1.44 at US$46.20 per barrel and the April natural gas contract was up 6.1 cents at US$1.745 per mmBTU. The April gold contract was up US$26.40 at US$1,593.10 an ounce and the May copper contract was up 2.40 cents at US$2.5640 pound.

With files from Reuters

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