Toronto’s TSX soars to record high close, Wall Street surges on Trump news

Cape Breton Post - - CLASSIFIEDS/BUSINESS -

The Toronto Stock Ex­change’s main in­dex and ma­jor New York indices all soared to record highs to­day partly on news that U.S. Pres­i­dent Don­ald Trump will soon re­veal his tax pol­icy.

On Bay Street, the S&P/TSX composite in­dex ad­vanced 111.82 points to 15,729.12, shat­ter­ing a pre­vi­ous record close of 15,657.63 set on Sept. 3, 2014.

South of the bor­der, the Dow Jones in­dus­trial aver­age gained 96.97 points to 20,269.37 and the S&P 500 ad­vanced 8.23 points to 2,316.10. The Nas­daq composite in­dex mean­while rose 18.95 points to 5,734.13 for its fourth con­sec­u­tive day of all-time highs.

The rally comes af­ter Trump promised on Thurs­day that he is pre­par­ing the busi­ness­friendly tax plan the mar­kets have been wait­ing for since his Jan. 20 in­au­gu­ra­tion, with plans to re­lease them in the near fu­ture.

Mean­while, the loonie rose 0.32 of a U.S. cent to 76.42 cents US.

The March crude con­tract rose 86 cents to US$53.86 per bar­rel, while the April gold con­tract shed 90 cents to US$1,235.90 an ounce.

March nat­u­ral gas fell 10.7 cents to about US$3.03 per mmBTU and March cop­per con­tracts rose about 11.5 cents to around US$2.77 a pound.

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