Materials sector weighs on stocks in Toronto, U.S. markets trade lower

TORONTO - Losses in the materials sector weighed on Canada's main stock index in late-morning trading, while U.S. stock markets also moved lower.

The S&P/TSX composite index was down 16.32 points at 16,171.78.

In New York, the Dow Jones industrial average was down 85.17 points at 25,802.21. The S&P 500 index was down 8.78 points at 2,823.79, while the Nasdaq composite was down 11.07 points at 7,712.88.

The Canadian dollar traded for 74.99 cents US compared with an average of 75.23 cents US on Tuesday.

The May crude contract was up 35 cents at US$59.64 per barrel and the April natural gas contract was down 4.6 cents at US$2.83 per mmBTU.

The April gold contract was down US$3.30 at US$1,303.20 an ounce and the May copper contract was up 0.10 of a cent at US$2.92 a pound.

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