Tech stocks helps lift S&P/TSX composite despite energy sector weakness as oil falls

TORONTO — Strength in the technology sector helped lift Canada’s main stock index higher in late-morning trading despite losses in energy stocks as the price of oil moved lower.

The S&P/TSX composite index was up 54.09 points at 20,274.10.

In New York, the Dow Jones industrial average was up 123.69 points at 34,221.79. The S&P 500 index was up 25.11 points at 4,028.69, while the Nasdaq composite was up 121.62 points at 11,296.03.

The Canadian dollar traded for 74.74 cents US compared with 74.65 cents US on Tuesday.

The January crude oil contract was down US$3.59 at US$77.36 per barrel and the January natural gas contract was up 45 cents at US$7.86 per mmBTU.

The December gold contract was up US$3.40 at US$1,743.30 an ounce and the December copper contract was down less than a penny at $3.61 a pound.

This report by The Canadian Press was first published Nov. 23, 2022.

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

The Canadian Press