S&P/TSX composite drops despite surge in crude oil prices above US$40 per barrel

TORONTO — Canada’s main stock index dropped despite a surge in crude oil prices back above US$40 per barrel.

The S&P/TSX composite index closed down 135.61 points at 16,295.66.

In New York, the Dow Jones industrial average was up 36.78 points at 28,032.38. The S&P 500 index was down 15.71 points at 3,385.49, while the Nasdaq composite was down 139.86 points at 11,050.47.

The Canadian dollar traded for 75.94 cents US compared with 75.90 cents US on Tuesday.

The October crude oil contract was up US$1.88 at US$40.16 per barrel and the October natural gas contract was down 9.5 cents at nearly US$2.27 per mmBTU.

The December gold contract was up US$4.30 at US$1,970.50 an ounce and the December copper contract was down less than a penny at US$3.06 a pound.

This report by The Canadian Press was first published Sept. 16, 2020.

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