Canada stocks rise as energy, technology and metals lift TSX
North American equities are trading higher in late-morning activity, with Canada’s benchmark index supported by gains in energy, technology and base metal shares. The move comes as U.S. indexes also advance and the Canadian dollar slips against the U.S. dollar compared with Tuesday.
Highlights
- S&P/TSX composite index rises 250.19 points to 36,420.64 in late-morning trading, led by gains in energy, technology, and metals.
- December crude oil contract advances $1.94 to $87.98 per barrel, boosting Canadian energy sector stocks.
- Canadian dollar drops to 70.24 cents U.S. from 70.52 cents U.S. as December gold contract falls $17.70 to $4,012.50 an ounce.
Late-morning market moves across Canada and the U.S.
As reported by MoneySense, citing The Canadian Press, the S&P/TSX composite index is up 250.19 points at 36,420.64 in late-morning trading.In New York, the Dow Jones industrial average is up 18.55 points at 52,250.44. The S&P 500 is up 85.66 points at 7,606.59, while the Nasdaq composite gains 456.34 points to 25,522.22.
The Canadian dollar trades at 70.24 cents U.S., down from 70.52 cents U.S. on Tuesday.
Commodity prices shape trading sentiment
The December crude oil contract is up U.S.$1.94 at U.S.$87.98 per barrel, adding support to energy-linked stocks in Canada.At the same time, the December gold contract is down U.S.$17.70 at U.S.$4,012.50 an ounce, pointing to mixed commodity signals for resource-heavy markets.
As we noted earlier, the S&P 500 rally faces an earnings and interest-rate test as it hovers near 8,000.
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