Commodities propel S&P/TSX composite to best day in two months, U.S. markets also up

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TORONTO — Commodities propelled Canada’s main stock index to its best day in two months, while the Federal Reserve signalled that interest rates will increase earlier than expected.

The S&P/TSX composite index closed up 157.20 points to 20,401.49.

In New York, the Dow Jones industrial average was up 338.48 points at 34,258.32. The S&P 500 index was up 41.45 points at 4,395.64, while the Nasdaq composite was up 150.45 points at 14,896.85.

The Canadian dollar traded for 78.39 cents US compared with 78.12 cents US on Tuesday.

The November crude contract was up US$1.74 at US$72.23 per barrel and the October natural gas contract was unchanged at US$4.81 per mmBTU.

The December gold contract was up 60 cents at US$1,778.80 an ounce and the December copper contract was up 12.6 cents at US$4.25 a pound.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)