North American stock markets rise on U.S. rate cut hope, gold moves higher

The Canadian Press
Published Wednesday, June 5, 2019 12:07AM EDT
Last Updated Wednesday, June 5, 2019 4:34PM EDT

TORONTO -- North American stock markets continued to rise on anticipation of U.S. interest rate cuts, sending gold prices to a three-and-a-half month high while oil prices plummeted.

The S&P/TSX composite index closed up 46.42 points to 16,212.66.

In New York, the Dow Jones industrial average was up 207.39 points at 25,539.57. The S&P 500 index was up 22.88 points at 2,826.15, while the Nasdaq composite was up 48.36 points at 7,575.48.

The Canadian dollar traded at an average of 74.62 cents US compared with an average of 74.55 cents US on Tuesday.

The July crude contract was down US$1.80 at US$51.68 per barrel and the July natural gas contract was down 3.8 cents at US$2.38 per mmBTU.

The August gold contract was up US$4.90 at US$1,333.60 an ounce and the July copper contract was down 4.6 cents at US$2.62 a pound.

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