NEWS
04/16/2015 14:37 EDT | Updated 06/16/2015 01:12 EDT

TSX remains in the red despite higher oil; N.Y. advances on improved earnings

TORONTO - The Toronto stock market was stuck in the red Thursday afternoon even as oil prices continued their recent advance and the financial sector rebounded from earlier losses to reach positive territory.The S&P/TSX composite was down 69.16 points at 15,381.716 after rising nearly 62 points on Wednesday.Meanwhile, the loonie extended its gains for a third day, rising 0.92 of a U.S. cent to 82.22 cents.New York markets were higher as investors balanced more favourable earnings news against a recent spate of uninspiring economic reports.The Dow Jones industrial average was up 46.01 points at 18,158.62, while the Nasdaq rose 3.39 points to 5,014.41 and the S&P 500 advanced 3.32 points to 2,109.95.On the commodity markets, the May crude contract rose 35 cents to US$56.74 a barrel, while June gold contract edged down 70 cents to US$1,200.60 an ounce and May copper surged seven cents to US$2.78 a pound.