Coronavirus: Stocks surge on hopes for a $2-tn U.S. stimulus deal

North American stocks jumped at the open on Tuesday as signs that Washington was nearing a deal on a $2-trillion rescue package for the coronavirus emergency gave a shot of optimism to markets reeling under the biggest selloff since the global financial crisis.

The Dow Jones Industrial Average rose 1,130.26 points, or 6.08 per cent, at the open to 19,722.19. The S&P 500 opened higher by 107.04 points, or 4.78 per cent, at 2,344.44. The Nasdaq Composite gained 335.47 points, or 4.89 per cent, to 7,196.15 at the opening bell.

In Toronto, Canada’s benchmark S&P/TSX composite index was up 718.30 points at 11,946.79.

The Canadian dollar traded for 69.16 cents US compared with an average of 69.05 cents US on Monday.

The May crude contract was up 97 cents at US$24.33 per barrel and the May natural gas contract was up 6.7 cents at US$1.740.

The April gold contract was up US$107.50 at US$1,675.10 an ounce and the May copper contract was up 10.95 cents at US$2.2100 a pound.

— With files from the Canadian Press

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