S&P/TSX composite rises Tuesday on energy strength, U.S. markets also move higher

TORONTO — Canada’s main stock index rose Tuesday near the end of the trading day, erasing earlier losses as energy and base metals helped offset weakness in telecom, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 78.01 points at 21,953.80.

In New York, the Dow Jones industrial average was up 162.33 points at 39,331.85. The S&P 500 index was up 33.92 points at 5,509.01, while the Nasdaq composite was up 149.46 points at 18,028.76.

The Canadian dollar traded for 73.01 cents US compared with 73.06 cents US on Friday.

The August crude oil contract was down 57 cents at US$82.81 per barrel and the August natural gas contract was down four cents at US$2.44 per mmBTU.

The August gold contract was down US$5.50 at US$2,333.40 an ounce and the September copper contract was flat at US$4.42 a pound.

This report by The Canadian Press was first published July 2, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press