North American stock markets rebound as investors undaunted by higher U.S. inflation

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TORONTO — North American stock markets rebounded as investors seemed to shrug off news that U.S. inflation is accelerating at its fastest pace since the financial crisis in 2008.

The S&P/TSX composite index closed up 47.20 points to 20,049.47.

In New York, the Dow Jones industrial average was up 19.10 points at 34,466.24. The S&P 500 index was up 19.63 points at 4,239.18, while the Nasdaq composite was up 108.58 points at 14,020.33.

The Canadian dollar traded for 82.69 cents US compared with 82.68 cents US on Wednesday.

The July crude oil contract was up 33 cents at US$70.29 per barrel and the July natural gas contract was up two cents at US$3.15 per mmBTU.

The August gold contract was up 90 cents at US$1,896.40 an ounce and the July copper contract was down 4.6 cents at US$4.49 a pound.

This report by The Canadian Press was first published June 10, 2021.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press