TORONTO _ The Toronto stock market closed higher as traders hoped for hints about when the U.S. Federal Reserve may move on hiking interest rates.
The S&P/TSX composite index was ahead 34.23 points at 15,338.47. The Canadian dollar was up 0.02 of a cent at 91.86 cents US.
The Dow industrials closed up 175.83 points to 16,838.74. The Nasdaq gained 43.38 points to 4,508.31 and the S&P 500 index rose 16.67 points to 1,971.73.
The Fed has kept short-term rates near zero since the financial crisis. And while the Fed isn't expected to move until the middle of next year, there has been speculation the it raise rates earlier as the economy continues to recover.
And that's why traders are looking to Friday when Fed chair Janet Yellen delivers the keynote speech at the central bank's annual meeting, which has been the scene of other major announcements.
For news about small stocks that made big moves in Monday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report