S&P/TSX composite up more than 400 points at the beginning of the session, US markets also up

Canada’s main stock index rallied more than 500 points in a broad-based rally as it recouped some of its recent losses, while the US stock market also edged higher in late morning trade.

S&P /TSX The composite index rose 514.76 points at 19,395.95.

In New York, the Dow Jones Industrial Average rose 773.05 points to 30,263.94. The S&P 500 index rose 108.54 points to 3,786.97, while the Nasdaq composite added 361.44 points to 11,176.88.

The Canadian dollar traded for 73.75 US cents versus 73.20 US cents on Monday.

The November crude contract was up $2.74 at $86.37 a barrel and the November natural gas contract was up 21 cents at $6.68/mmBTU.

The gold contract for December delivery was up $29.10 at $1,731.10 an ounce and the December contract was up 7 cents at $3.48 a pound.