TORONTO — Canada's main stock index and U.S. markets surged after U.S. President Donald Trump said he would not attempt to fire the head of the Federal Reserve and U.S. Treasury Secretary Scott Bessent commented that he expects a "de-escalation" in the trade war with China.
The S&P/TSX composite index was up 201.64 points at 24,507.62.
In New York, the Dow Jones industrial average was up 750.08 points at 39,937.06. The S&P 500 index was up 125.10 points at 5,412.86, while the Nasdaq composite was up 564.57 points at 16,864.99.
The Canadian dollar traded for 72.11 cents US compared with 72.32 cents US on Tuesday.
The June crude oil contract was down US$1.49 at US$62.18 per barrel and the June natural gas contract was up five cents US at US$3.19 per mmBTU.
The June gold contract was down US$119.90 at US$3,299.50 an ounce and the May copper contract was down three cents US at US$4.85 a pound.
— With files from The Associated Press
This report by The Canadian Press was first published April 23, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
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