Global markets rise on further signs of U.S. economic growth, Italian concessions

The Canadian Press</span>
Published Wednesday, October 3, 2018 11:30AM EDT
Last Updated Wednesday, October 3, 2018 5:20PM EDT

TORONTO -- Further signs of U.S. economic growth and budget concessions in Italy drove global markets higher.

The S&P/TSX composite index closed up 54.82 points to 16,072.05.

In New York, the Dow Jones industrial average reached another new high, gaining 54.45 points at 26,828.39. The S&P 500 index rose 2.08 points to 2,925.51, while the Nasdaq composite was up 25.54 points at 8,025.08.

The Canadian dollar traded at an average of 77.93 cents US compared with an average of 78.02 cents US on Tuesday.

The November crude contract was up $1.18 at US$76.41 per barrel and the November natural gas contract was up 6.4 cents at US$3.23 per mmBTU.

The December gold contract was down US$4.10 at US$1,202.90 an ounce and the December copper contract was up 2.75 cents at US$2.83 a pound.

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