S&P/TSX composite up nearly 300 points, U.S. stock markets also higher

Canada’s main stock index was up nearly 300 points in late-morning trading as gains in energy stocks helped lead a broad-based rally and U.S. stock markets also pushed higher.

The S&P/TSX composite index was up 293.78 points at 19,539.85.

In New York, the Dow Jones industrial average was up 230.36 points at 33,835.01. The S&P 500 index was up 41.45 points at 4,377.11, while the Nasdaq composite was up 154.86 points at 13,639.10.

The Canadian dollar traded for 73.59 cents US compared with 73.08 cents US on Friday.

The November crude contract was down 75 cents at US$85.63 per barrel and the November natural gas contract was up less than a penny at US$3.38 per mmBTU.

The December gold contract was up US$6.50 at US$1,870.80 an ounce and the December copper contract was down three cents at US$3.62 a pound.