North American markets rally on corporate earnings, eased geopolitical tensions

North American markets rallied Wednesday against the backdrop of another day of strong corporate earnings as well as easing investor anxiety about U.S.-China relations.

The S&P/TSX composite index was up 40.61 points at 19,545.94.

In New York, the Dow Jones industrial average was up 416.33 points at 32,810.50. The S&P 500 index was up 63.98 points at 4,155.17, while the Nasdaq composite was up 319.40 points at 12,668.16.

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The Canadian dollar traded for 77.80 cents US compared with 77.78 cents US on Tuesday.

The September crude contract was down US$3.76 at US$90.66 per barrel and the September natural gas contract was up 56 cents at US$8.27.

The October gold contract was down US$13.30 at US$1,776.40 an ounce and the September copper contract was down five cents at US$3.47 a pound.

© 2022 The Canadian Press

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