S&P/TSX composite bounces back but still falls on crude, metals weakness

Canada’s main stock index bounced back near the end of day to avoid its weakest close in 15 months on commodity weakness with crude oil and metals sinking on recession fears.

The S&P/TSX composite index closed down 104.50 points to 18,729.66.

In New York, the Dow Jones industrial average was up 69.86 points at 31,037.68. The S&P 500 index was up 13.69 points at 3,845.08, while the Nasdaq composite was up 39.61 points at 11,361.85.

Read more: S&P/TSX composite closes down nearly 200 points, crude oil plummets

The Canadian dollar traded for 76.65 cents US compared with 76.70 cents US on Tuesday.

The August crude contract was down 97 cents at US$98.53 per barrel and the August natural gas contract was down 1.3 cents at US$5.51 per mmBTU.

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The August gold contract was down US$27.40 at US$1,736.50 an ounce and the September copper contract was down seven tenths of a cent at nearly US$3.41 a pound.

© 2022 The Canadian Press

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