Canadian and U.S. stocks rise on tariff news

Stock markets in Canada and the U.S. had a strong start on Monday. This growth follows news that a new set of U.S. tariffs, set to begin on April 2, may be less extensive than initially thought. In Canada, the S&P/TSX composite index rose by 335.62 points, finishing at 25,304.11. Meanwhile, the Dow Jones industrial average in New York gained 597.97 points, reaching 42,583.32. The S&P 500 also saw an increase of 100.01 points, closing at 5,767.57. The Nasdaq composite jumped 404.54 points to end at 18,188.59. The Canadian dollar exchanged at 69.84 cents US, up from 69.70 cents US on Friday. In energy markets, the price of May crude oil rose by 83 cents to reach $69.11 per barrel. However, the May natural gas contract fell by seven cents to $3.95 per mmBTU. In precious metals, the April gold contract saw a decline of $5.80, finishing at $3,015.60 an ounce. Similarly, the May copper contract dropped two cents, settling at $5.09 a pound.