S&P/TSX composite index climbs in late-morning trade as base metal stocks advance
Canada's main stock index is moving higher in late-morning trading, supported by gains in base metal shares. U.S. equities are also trading up, while the Canadian dollar edges lower and oil prices decline.
Highlights
- S&P/TSX composite index rises 122.97 points to 36,067.13 in late-morning trade, driven by gains in base metal stocks.
- Dow Jones industrial average climbs 45.78 points to 52,407.36, S&P 500 advances 43.81 points to 7,720.58, Nasdaq composite up 266.33 points to 26,435.71.
- December crude oil contract drops U.S.$1.78 to U.S.$99.98 per barrel, while December gold contract increases U.S.$32.00 to U.S.$4,070.40 an ounce.
Market moves across North America
As reported by Moneysense, strength in base metal stocks is helping lift the S&P/TSX composite index by 122.97 points to 36,067.13 in late-morning trading.In New York, the Dow Jones industrial average is up 45.78 points at 52,407.36. The S&P 500 is higher by 43.81 points at 7,720.58, while the Nasdaq composite gains 266.33 points to 26,435.71.
Currency and commodity prices in focus
The Canadian dollar is trading at 71.25 cents U.S., compared with 71.30 cents U.S. on Monday.The December crude oil contract is down U.S.$1.78 at U.S.$99.98 per barrel. The December gold contract is up U.S.$32.00 at U.S.$4,070.40 an ounce.
In our earlier S&P 500 outlook, we noted that the index was holding above key moving averages but faced rising downside risk as weakness in large-cap tech followed Meta’s negative free cash flow update. The piece highlighted a rotation toward safer assets, reflected in a drop in the 10-year Treasury yield, and pointed to a near-term consolidation band of roughly 7,643–7,737 as a key area to watch.
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