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Tech stocks help lead S&P/TSX composite higher, U.S. stock markets also rise

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TORONTO -

Tech-sector gains helped Canada's main stock index rise more than 200 points in late-morning trading despite losses in the energy sector which fell as the price of oil pulled back.

The S&P/TSX composite index was up 222.71 points at 21,454.74.

In New York, the Dow Jones industrial average was up 615.74 points at 33,248.38. The S&P 500 index was up 93.28 points at 4,263.98, while the Nasdaq composite was up 371.08 points at 13,166.63.

The Canadian dollar traded for 78.04 cents US compared with 77.72 cents US on Tuesday.

The April crude oil contract was down US$5.41 at US$118.29 per barrel and the April natural gas contract was up four cents at US$4.56 per mmBTU.

The April gold contract was down US$42.80 at US$2,000.50 an ounce and the May copper contract was down 10 cents at US$4.61 a pound.

This report by The Canadian Press was first published March 9, 2022

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