S&P/TSX composite up more than 300 points in broad-based rally, U.S. stocks also rise

TORONTO — Canada's main stock index gained more than 300 points Monday in a broad-based rally, while U.S. markets also rose.

The Fed held its key rate steady last week but indicated it planned to ease off somewhat on other quantitative tightening measures. “It's the conundrum of, are we in stagflation? Are we in a true slowdown, or what are we looking at here?” she said.Markets are in wait-and-see mode, she said. Expectations for rate cuts have been drastically pared back from the beginning of the year.

Most of the companies in the S&P 500 have already reported their first-quarter results, with more than three-quarters of them topping profit expectations, according to FactSet.The Canadian dollar traded for 73.20 cents UScompared with 73.14 cents US on Friday.

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S&P/TSX composite down almost 300 points, U.S. stock markets also dropTORONTO — Canada's main stock index lost almost 300 points Tuesday in a broad-based decline led by energy and base metals, while U.S. markets also slid ahead of the central bank's upcoming interest rate decision.
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