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Stocks surge on U.S.-China trade truce, while gold plummets

TORONTO — Markets in the United States and Canada rallied on news of a 90-day truce in the U.S.-China trade war. The S&P/TSX composite index was up 174.44 points at 25,532.18. In New York, the Dow Jones industrial average was up 1,160.
Canadian Press
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Financial numbers flow on the digital ticker tape at the TMX Group in Toronto's financial district on May 9, 2014. THE CANADIAN PRESS/Darren Calabrese

TORONTO — Markets in the United States and Canada rallied on news of a 90-day truce in the U.S.-China trade war.

The S&P/TSX composite index was up 174.44 points at 25,532.18.

In New York, the Dow Jones industrial average was up 1,160.72 points at 42,410.10.

The S&P 500 index was up 184.28 points at 5,844.19, while the Nasdaq composite was up 779.43 points or 4.4 per cent at 18,708.34.

The June contract for gold sank US$116 to $3,228 an ounce.

Investors often flock to that precious metal as a safe haven.

This report by The Canadian Press was first published on May 12, 2025.

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

The Canadian Press

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