TORONTO –
Canada’s main stock index was up almost 650 points in a broad-based rally Thursday, while U.S. stock markets also rose after new data showing inflation in the United States eased in October.
The S&P/TSX composite index was up 646.11 points, or 3.34 per cent, at 19,990.36.
In New York, the Dow Jones industrial average was up 1,201.43 points, or 3.70 per cent, at 33,715.37, its biggest points gain since March 4, 2020.
The S&P 500 index was up 207.80 points, or 5.54 per cent, at 3,956.37, while the Nasdaq composite was up 760.97 points, or 7.35 per cent, at 11,114.15.
Markets were up on U.S. inflation data released Thursday, which was softer than expected, said Anish Chopra, managing director with Portfolio Management Corp.
Inflation for the U.S. was 7.7 per cent in October, dipping below eight per cent for the first time since February.
Investors are interpreting the data as a sign…