Canadian, U.S. stock markets regain some ground as tech stocks bounce back Tuesday
Written by The Canadian Press on January 28, 2025
TORONTO — Strength in technology stocks led Canada’s main stock index higher on Tuesday, while U.S. stock markets also rose to regain some of the ground lost Monday after a Chinese AI startup called DeepSeek unveiled a large language model that apparently rivals those created in the U.S.
The S&P/TSX composite index closed up 130.30 points at 25,419.45.
In New York, the Dow Jones industrial average was up 136.77 points at 44,850.35. The S&P 500 index was up 55.42 points at 6,067.70, while the Nasdaq composite was up 391.75 points at 19,733.59.
The Canadian dollar traded for 69.47 cents US compared with 69.54 cents US on Monday.
The March crude oil contract was up 60 cents at US$73.77 per barrel and the March natural gas contract was down 13 cents at US$3.12 per mmBTU.
The February gold contract was up US$29.10 at US$2,767.50 an ounce and the March copper contract was up two cents at US$4.25 a pound.
This report by The Canadian Press was first published Jan. 28, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press