S&P/TSX composite up as gold climbs higher, U.S. stock markets rise

TORONTO — Canada’s main stock index was up in early trading, boosted by gains in the mining-heavy materials sector as the price of gold climbed higher.

The S&P/TSX composite index was up 56.64 points at 15,652.14.

In New York, the Dow Jones industrial average was up 96.05 points at 25,986.23. The S&P 500 index was up 15.95 points at 3,161.27, while the Nasdaq composite was up 84.45 points at 10,428.34.

The Canadian dollar traded for 73.72 cents US compared with 73.62 cents US on Tuesday.

The August crude contract was up a penny at US$40.63 per barrel and the August natural gas contract was down two cents at US$1.85 per mmBTU.

The August gold contract was up US$11.80 at US$1,821.70 an ounce and the September copper contract was up just over a penny at US$2.81 a pound.

This report by The Canadian Press was first published July 8, 2020.

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

The Canadian Press