Energy moves S&P/TSX composite higher while U.S. rebounds from worst week since 2020

A rising energy sector supported Canada’s main stock index in a continued recovery from last week’s brutal performance while U.S. stock markets returned from a holiday to bounce back even stronger after their worst week since the pandemic.

The S&P/TSX composite index closed up 73.66 points to 19,257.29.

In New York, the Dow Jones industrial average was up 641.47 points at 30,530.25. The S&P 500 index was up 89.95 points at 3,764.79, while the Nasdaq composite was up 270.95 points at 11,069.30.

Read more: S&P/TSX composite partially recovers from steep losses last week in broad based rally

The Canadian dollar traded for 77.35 cents US compared with 76.96 cents US on Monday.

The August crude oil contract was up US$1.53 from Friday’s settled priced at US$109.52 per barrel and the July natural gas contract was down 13.6 cents from Friday at US$6.81 per mmBTU.

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The August gold contract was down US$1.80 at US$1,838.80 an ounce and the July copper contract was up 2.6 cents at US$4.04 a pound.

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Global News Morning Market and Business Report – June 21, 2022

© 2022 The Canadian Press

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