May 26th, 2024

S&P/TSX composite inches higher, U.S. stock markets rally to record highs

By The Canadian Press on May 15, 2024.

The S&P TSX composite index screen at the TMX Market Centre in Toronto is photographed on Friday, Nov.11, 2022. THE CANADIAN PRESS/ Tijana Martin

TORONTO – Strength in technology and utility stocks helped Canada’s main stock index inch higher Wednesday, while U.S. stock markets rallied to new record highs after a pair of reports on inflation and retail sales.

The S&P/TSX composite index closed up 41.42 points at 22,284.76.

In New York, the Dow Jones industrial average was up 349.89 points at 39,908.00. The S&P 500 index was up 61.47 points at 5,308.15, while the Nasdaq composite was up 231.21 points at 16,742.39.

The Canadian dollar traded for 73.45 cents US compared with 73.24 cents US on Tuesday.

The June crude oil contract was up 61 cents at US$78.63 per barrel and the June natural gas contract was up eight cents at US$2.42 per 1,000 cubic feet.

The June gold contract was up US$35 at US$2,394.90 an ounceand the July copper contract was up three cents at US$4.92 a pound.

This report by The Canadian Press was first published May 15, 2024.

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

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