TORONTO — North American stock markets were up at the start of trading and the loonie ticked higher against the U.S. dollar amid reports of unprecedented job losses in April.
The S&P/TSX composite index was up 104.80 points at 14,938.49 after Canada and the U.S. reported record job losses in April due to the COVID-19 pandemic.
In New York, the Dow Jones industrial average was up 271.61 points at 24,147.50. The S&P 500 index was up 26.88 points at 2,908.07, while the Nasdaq composite was up 58.56 points at 9,038.22.
The Canadian dollar traded for 71.64 cents US compared with an average of 71.35 cents US on Thursday.
The July crude contract was up 94 cents at US$25.77 per barrel and the June natural gas contract was five cents at US$1.84 per mmBTU.
The June gold contract was down US$10.80 at US$1,715.00 an ounce and the July copper contract was up nearly three cents at nearly US$2.41 a pound.
This report by The Canadian Press was first published May 8, 2020
