Technology Sector Boosts Canadian Index; U.S. Markets On The Rise

In late-morning trading, the technological sector's robust performance provided a lift to Canada's primary stock index, keeping it in positive territory. Meanwhile, stock markets in the United States experienced an uptick as well.

The S&P/TSX composite index observed a marginal increase of 2.67 points, arriving at 21,104.21, benefiting from the strength in tech stocks.

Looking south of the border, the Dow Jones industrial average saw a rise of 97.61 points reaching 38,146.74. Concurrently, the S&P 500 index advanced by 6.72 points to settle at 4,900.88, and the Nasdaq composite index enjoyed a modest gain of 9.52 points, concluding at 15,520.02.

The Canadian currency also experienced a slight uptick with the dollar trading at 74.31 cents US, compared to 74.10 cents US the day before.

In commodity markets, the March contract for crude oil faced a minor drop by 25 cents, priced at US$77.11 per barrel, and the natural gas contract for March was down by six cents, valued at US$2.12 per mmBTU.

Precious metals displayed a mixed picture with the February gold contract marginally down by 30 cents, trading at US$2,017.50 an ounce, while the March copper contract saw a negligible rise of less than a penny, priced at US$3.87 a pound.

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