North American markets up in late-morning trading following U.S. inflation data

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North American markets rose sharply in late-morning trading, especially south of the border following better-than-expected U.S. inflation data.

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The S&P/TSX composite index was up 279.73 points at 19,858.03.

In New York, the Dow Jones industrial average was up 557.60 points at 33,332.01. The S&P 500 index was up 80.73 points at 4,203.20, while the Nasdaq composite was up 315.57 points at 12,809.50.

The Canadian dollar traded for 78.34 cents US compared with 77.64 cents US on Tuesday.

The September crude contract was down US$1.23 at US$89.27 per barrel and the September natural gas contract was up nearly 11 cents at US$7.94.

The December gold contract was up US$2.70 at US$1815.00 an ounce and the September copper contract was up six cent at US$3.65 a pound.

This report by The Canadian Press was first published Aug. 10, 2022.

Companies in this story: (TSX:GSPTSE, TSX:CADUSDX)