Markets end wild first week of the year with strong rebound on positive news

The Canadian Press</span>
Published Friday, January 4, 2019 6:13AM EST
Last Updated Friday, January 4, 2019 4:32PM EST

TORONTO -- North American stock markets ended a wild first trading week of the year by rebounding strongly on positive trade, employment and interest rate news that buoyed the price of oil.

The S&P/TSX composite index closed up 213.87 points to 14,426.62.

In New York, the Dow Jones industrial average gained 3.3 per cent or 746.94 points at 23,433.16. The S&P 500 index was up 84.05 points at 2,531.94, while the tech-heavy Nasdaq composite was up 4.3 per cent or 275.35 points at 6,738.86.

The Canadian dollar traded at an average of 74.57 cents US compared with an average of 74.02 cents US on Thursday.

The February crude contract was up 87 cents US at US$47.96 per barrel after nearly hitting US$50 and the February natural gas contract was up 9.9 cents at US$3.04 per mmBTU.

The February gold contract was down US$9 at US$1,285.80 an ounce and the March copper contract was up 7.95 cents at US$2.65 a pound.

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