Energy stocks help lift S&P/TSX composite higher as price of oil rises

TORONTO — Strength in the energy sector as the price of oil rose helped Canada’s main stock index climb in late-morning trading, while U.S. stock markets were in the red.

The S&P/TSX composite index was up 56.09 points at 20,513.55.

In New York, the Dow Jones industrial average was down 329.38 points at 33,581.47. The S&P 500 index was down 26.50 points at 3,964.47, while the Nasdaq composite was down 48.08 points at 11,047.03.

The Canadian dollar traded for 74.53 cents US compared with 74.68 cents US on Tuesday.

The March crude oil contract was up US$1.69 at US$82.14 per barrel and the February natural gas contract was down 21 cents at US$3.37 per mmBTU.

The February gold contract was up US$3.80 at US$1,913.70 an ounce and the March copper contract was up seven cents at US$4.30 a pound.

This report by The Canadian Press was first published Jan. , 2023.

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

The Canadian Press