North American stocks rose sharply at the start of trading on Tuesday, but let's put this into perspective: They merely erased the losses endured during the last 45 minutes of trading on Monday, when stocks sold off at the end of the day.
The Dow Jones industrial average rose 249 points, or 3 per cent, to 8424. All 30 stocks in the index rose. Boeing Co. rose 9 per cent, General Motors Corp. rose 7.9 per cent, Citigroup Inc. rose 2.6 per cent and General Electric Co. rose 3.6 per cent.
In Canada, the S&P/TSX composite index rose 424 points, or 5 per cent, to 8961. Among financials, Manulife Financial Corp. rose 8.6 per cent, Bank of Nova Scotia rose 4.2 per cent. Among energy stocks, Suncor Energy Inc. rose 6.2 per cent and Canadian Natural Resources Ltd. rose 6 per cent, after the price of crude oil rose slightly to $64.63 (U.S.) a barrel. Barrick Gold Corp. rose 7.8 per cent. Research In Motion Ltd. rose 3.1 per cent.