TSX recap: Energy stocks help lift Index 0.28% higher
BNN Bloomberg
Gains in energy stocks helped buoy Canada's main stock index Tuesday, while U.S. markets also rose, as investors in both countries await big economic news Wednesday.
Trading on Tuesday was the calm before the storm, with markets ticking upwards ahead of inflation data to be released in the U.S. and a central bank meeting in Canada, said Anish Chopra, managing director with Portfolio Management Corp.
The S&P/TSX Composite Index was up 56.11 points, 0.28 per cent, at 19,878.56.
In New York, the Dow Jones Industrial Average was up 317.02 points at 34,261.42. The S&P 500 Index was up 29.73 points at 4,439.26, while the Nasdaq Composite was up 75.22 points at 13,760.70.
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Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
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