01/23/2018 06:20 EST | Updated 01/23/2018 07:00 EST

Energy sector helps lift Toronto stock market, loonie trades higher

TORONTO — Canada's main stock index crept higher in late-morning trading, helped in part by strength in the energy sector as the price of oil headed higher.

The S&P/TSX composite index was up 5.15 points to 16,353.13, after 90 minutes of trading.

In New York, the Dow Jones industrial average was up 28.85 points to 26,243.45. The S&P 500 index was up 9.23 points to 2,842.20 and the Nasdaq composite index was up 48.63 points to 7,456.66.

The Canadian dollar was trading at 80.42 cents US, up from an average price of 80.27 cents US on Monday.

The March crude contract was up 83 cents to US$64.40 per barrel and the February natural gas contract was up 18 cents to US$3.40 per mmBTU.

The February gold contract was up US$5.40 to US$1,337.30 an ounce and the March copper contract was down seven cents to US$3.13 a pound.

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