S&P/TSX composite reverses gains to close lower despite rising oil price

TORONTO -- Canada's main stock index gave up gains in afternoon trading, despite a boost from energy and materials sectors.

The S&P/TSX composite index was down 55.43 points at 16,455.40.

In New York, the Dow Jones industrial average was down 165.81 points at 28,514.00, the S&P 500 index was down 23.26 points at 3,488.67, while the Nasdaq composite was down 95.17 points at 11,768.73.

The Canadian dollar traded for 76.11 cents US compared with 76.14 cents US on Tuesday.

The November crude contract was up 84 cents US at US $41.04 per barrel and the November natural gas contract was down 21.9 cents US at US$2.64 per mmBTU.

The December gold contract was up US$12.70 at US$1,907.30 an ounce and the December copper contract was up 0.6 cents US$3.05 a pound.

This report by The Canadian Press was first published Oct.14, 2020.