TSX rallies on Irma, North Korea relief; Tahoe Resources soars

Asian stock indices mixed

Ranked as one of the most powerful hurricanes ever recorded in the Atlantic, Irma hit a wide swath of Florida on Sunday. Still, nearly 7 million were without power and millions were displaced in what may go down as one of the worst storms in Florida's history.

It had slumped to a 10-month low of 107.320 yen on Friday, when Hurricane Irma threatened Florida and as financial markets braced for the possibility of another missile or nuclear test to mark North Korea's founding day on September 9. The Fed has a 2 percent inflation target.

The Dow Jones Industrial Average .DJI rose 65.07 points, or 0.29 percent, to 22,122.44.

All eleven of the S&P 500's main sectors finished in positive territory, with financials and information technology shares leading the rally.

ASIA'S DAY: Japan's benchmark Nikkei 225 index jumped 1.4 percent to close at 19,545.77 as the yen came off recent highs against the dollar, easing pressure on exporters. The S&P 500 index was up 26.68 points to 2,488.11 and the Nasdaq composite index gained 72.07 points to 6,432.26.

"Irma is going to be a very costly event but nowhere near what it threatened to do", said Sandler O'Neill managing director Paul Newsome, who expects insurers to be able to cover losses with earnings from a quarter to a year.

With investors less anxious about Irma's impact, insurers Universal Insurance Holdings (UVE.N) and HCI Group (HCI.N) surged more than 12 percent, while Heritage Insurance (HRTG.N) soared 21 percent.

The pan-European FTSEurofirst 300 index rose 0.98 percent and MSCI's gauge of global stocks gained 0.74 percent.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was up 0.26% at 91.55 by 03:00 AM ET (07:00 GMT).

"We are massively stimulating this economy that's already doing pretty well", Paulsen said.

The index had hit a more than 2-1/2-year low of 91.011 Friday as investors fretted about the short-term impact of Irma on the US economy and simmering tensions with North Korea.

The euro EUR= fell 0.67 percent to $1.1952 against the greenback, while the Japanese yen weakened 1.52 percent at 109.47 per dollar.

So far in 2017, the S&P 500 has risen 10 percent.

The index had risen on Monday as 10-year U.S. Treasury yields rose 8 basis points to 2.125 percent, their biggest daily in almost two months.

- Germany's 10-year yield climbed two basis points to 0.33 percent.

Oil prices regained a little ground after falling sharply on Friday amid worries that energy demand would be hit hard by Hurricane Irma.

Elsewhere in commodities, the October crude contract advanced 59 cents to US$48.07 per barrel.

- Gold sank 1.1 percent to settle at $1,335.70 an ounce for the biggest tumble in two months. Bullion futures fell 1.2% to $1,335.00 a troy ounce on the Comex division of the New York Mercantile Exchange.

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