North American equity markets closed near session highs, with the S&P/TSX Composite Index gaining 1.54 per cent, the Dow Jones Industrial Average up 1.51 per cent, the S&P 500 rising 1.47 per cent and the tech-heavy Nasdaq Composite Index notching a 1.11-per-cent gain to open the trading week as investors gauge plans to reopen the economy in the face of the COVID-19 pandemic.

In Toronto, eight of the 11 TSX subgroups finished the session higher, led by health care, real estate and utilities. Information technology, consumer staples and materials lost ground,

Oil prices recouped some losses, but finished the session deep in negative territory. U.S. benchmark West Texas Intermediate crude was down about 23 per cent shortly before five p.m. ET to trade just shy of US$13 per barrel amid continued concerns over global oversupply and demand destruction wrought by the pandemic. Alberta’s Western Canadian Select crude shed 21 per cent of its value to end the trading day at US$6.51 per barrel.

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12:00 p.m. ET: North American equities extend gains into midday

North American equity markets continued to march higher into midday to trade near sessions highs, with the S&P/TSX Composite Index up 0.8 per cent, the S&P 500 rising 1.4 per cent, and the Dow Jones Industrial Average and the Nasdaq Composite Index up about 1.1 per cent.

In Toronto, seven of the 11 subgroups were in positive territory, led by health care, real estate and financials. Energy, consumer staples and materials were the biggest percentage decliners.

Oil prices remained under pressure, with U.S. benchmark West Texas Intermediate down almost 30 per cent to trade at US$12.25 per barrel. Alberta’s Western Canadian Select fell 22 per cent to trade at US$6.43 per barrel.

The Canadian dollar gained a quarter of a cent against its U.S. counterpart to trade at 71.21 cents U.S.

9:40 a.m. ET: North American equities post modest rally, crude prices drop

North American equity markets notched modest gains into the open of Monday’s trade. The S&P/TSX Composite Index gained about a third of a per cent, while the S&P 500 rose seven tenths of a per cent, the Dow Jones Industrial Average was up half a per cent and the tech-heavy Nasdaq Composite Index rose nearly a full per cent.

It’s set to be a busy week for Nasdaq-listed stocks, with tech titans Alphabet Inc., Microsoft Corp., Facebook Inc., Amazon.com Inc., and Apple Inc. all set to report quarterly earnings.

American benchmark crude was under significant pressure, with West Texas Intermediate prices plunging 28 per cent amid continued concerns of global oversupply due to demand destruction brought on by the forced economic hibernation put in place to combat the spread of COVID-19.

WTI has shed more than 80 per cent of its value since the beginning of the year.

The Canadian dollar gained two tenths of a cent against its U.S. counterpart, rising to 71.12 cents U.S., though the American dollar was broadly weaker against its major global peers.