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S&P/TSX composite up as Shopify boosts tech sector, U.S. stock markets also higher

TORONTO — Strength in technology stocks led by Shopify Inc. after its deal to help merchants integrate access to Inc.’s fulfilment network within their Shopify stores helped Canada’s main stock index move higher in late-morning trading, while U.S. stock markets also rose.

The S&P/TSX composite index was up 14.32 points at 20,344.64, while shares in Shopify rose more than eight per cent.

In New York, the Dow Jones industrial average was up 51.28 points at 34,941.52. The S&P 500 index was up 6.74 points at 4,521.61, while the Nasdaq composite was up 51.96 points at 14,071.27.

The Canadian dollar traded for 73.87 cents US compared with 73.88 cents US on Wednesday.

The October crude contract was up US$1.04 at US$82.67 per barrel and the October natural gas contract was up three cents at US$2.83 per mmBTU.

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The December gold contract was down US$3.90 at US$1,969.10 an ounce and the December copper contract was down two cents at US$3.83 a pound.

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&© 2023 The Canadian Press

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