BUSINESS

TSX rises as investors turn to energy stocks

Malcolm Morrison The Canadian Press
Published Tuesday, March 17, 2015 12:12AM EDT Last Updated Tuesday, March 17, 2015 4:33PM EDT

Asian markets jump as investors speculate

A currency trader watches monitors in front of screens showing the Korea Composite Stock Price Index (KOSPI), left, and foreign exchange rate at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea on March 17, 2015. (AP / Ahn Young-joon)

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TORONTO -- The Toronto stock market closed positive as buyers moved in on beaten down energy stocks following a string of steep declines.

The S&P/TSX composite index advanced 35.77 points to 14,898.53. The Canadian dollar was ahead 0.02 of a U.S. cent at 78.27 cents.

U.S. indexes were mainly lower as traders speculated about what the U.S. Federal Reserve might have to say about the pace of interest rate hikes.

The Dow Jones industrials fell 128.34 points to 17,849.08 and the S&P 500 index was down 6.99 points at 2,074.2. The Nasdaq was 7.92 points higher at 4,937.43.

Oil fell for a sixth session, down 42 cents to US$43.46 a barrel.

The Federal Reserve's two-day meeting on interest rates wraps up Wednesday afternoon. And traders will be watching whether the central bank removes the reference to "patience" in hiking rates from near zero. There has been much speculation the bank could hike in June or September.