Dow Jones reaches record high as TSX also posts strong gains

Traders work on the floor of the New York Stock Exchange (NYSE) at the close of the trading day on June 28, 2016 in New York City. Spencer Platt/Getty Images

TORONTO – Indices in New York smashed through new records at the close, while Canada’s main stock market pushed solidly ahead, as sentiment continued to build on rising oil prices and a rosy global outlook.

Strong gains in metals and energy stocks drove the S&P/TSX composite index in Toronto 115.79 points higher to 14,477.67.

On Wall Street, the Dow Jones industrial average and S&P 500 index both broke all-time highs, with the Dow up 120.74 points to 18,347.67 – surpassing its last record close in May 2015.

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The broader S&P 500 composite index advanced 14.98 points to 2,152.14 while the Nasdaq composite gained 34.18 points to 5,022.82.

Meanwhile, burgeoning oil prices continued to help the Canadian dollar appreciate. The loonie gained half a cent, climbing 0.54 of a cent to 76.75 cents US as the August crude contract jumped $2.04 at US$46.80 per barrel.

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In other commodities, August gold fell $21.30 to US$1,335.30 an ounce, August natural gas gained three cents at US$2.73 per mmBTU, and September copper contracts rose seven cents to US$2.21 a pound.

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