01/19/2016 11:24 EST | Updated 01/19/2017 00:12 EST

Toronto, New York stock markets rise, Canada's dollar gains

TORONTO — Canada's main stock market and the loonie were having a positive morning on Tuesday.

The Toronto Stock Exchange's S&P/TSX composite index was up 118.5 points at 12,060.67, after 90 minutes of trading. That mostly reversed a 131-point decline on Monday. 

At the same time, the Dow Jones industrial average was up 85.98 points at 16,074.06, the broader S&P 500 index rose 9.17 points to 1,889.50 and the Nasdaq gained 25.94 points to 4,167.03. The U.S. markets were closed Monday for a holiday. 

Canada's dollar was trading at 68.89 cents U.S., up 0.19 from Monday's close. 

On the commodity markets, the February gold contract fell $5.10 to US$1,085.60 an ounce and the February crude contract was down 42 cents at US$29 per barrel.

The Canadian Press