Commodities lift S&P/TSX composite to start February after volatile start to year

TORONTO –

Commodities and financials drove Canada’s main stock index higher to start February after a volatile January to the year on anticipation that interest rates will rise next month.

The S&P/TSX composite index closed up 221.63 points to 21,319.92.

In New York, the Dow Jones industrial average was up 273.38 points at 35,405.24. The S&P 500 index was up 30.99 points at 4,546.54, while the Nasdaq composite was up 106.12 points at 14,346.00.

The Canadian dollar traded for 78.78 cents US compared with 78.62 cents US on Monday.

The March crude oil contract was up five cents at US$88.20 per barrel and the March natural gas contract was down 12.3 cents at US$4.75 per mmBTU.

The April gold contract was up US$5.10 at US$1,801.50 an ounce and the March copper contract was up nearly 11 cents at US$4.43 a pound.

This report by The Canadian Press was first published Feb. 1, 2022.