Canada's main stock index gained almost 200 points Tuesday with broad-based strength across sectors while U.S. markets also rose, erasing Monday's losses. 

The S&P/TSX Composite Index was up 195.27 points, or 0.95 per cent, at 20,767.38.

In New York, the Dow Jones Industrial Average was up 368.95 points, or more than one per cent, at 34,086.04. The S&P 500 Index was up 58.83 points, or almost 1.5 per cent, at 4,076.60, while the Nasdaq Composite was up 190.74 points, or almost 1.7 per cent, at 11,584.55.

The Canadian dollar traded for 74.91 cents U.S. compared with 74.87 cents U.S. on Monday.

The March crude contract was up 97 cents at US$78.87 per barrel and the March natural gas contract was up a penny at US$2.68 per mmBTU.

The April gold contract was up US$6.10 at US$1,945.30 an ounce and the March copper contract was up two cents at US$4.23 a pound.