TORONTO — Stock markets in Canada and the U.S. soared in early trading after Iran, the United States and Israel agreed to a two-week ceasefire.
The price of oil also fell following the deal that includes the reopening of the Strait of Hormuz. The May crude oil contract was down US$20.36 at US$92.59 per barrel.
The S&P/TSX composite index was up 491.45 points at 33,728.97.
In New York, the Dow Jones industrial average was up 1,362.93 points at 47,947.39. The S&P 500 index was up 164.97 points at 6,781.82, while the Nasdaq composite was up 716.77 points at 22,734.62.
The Canadian dollar traded for 72.19 cents US compared with 71.91 cents US on Tuesday.
The June gold contract was up US$135.70 at US$4,820.40 an ounce.