Canada's main stock index closed higher in broad gains as commodities rose, while U.S. stock markets also ended up a day before the release of key inflation data. 

The S&P/TSX Composite Index ended up 126.19 points, 0.63 per cent, at 20,025.05. 

In New York, the Dow Jones Industrial Average was up 268.91 points at 33,973.01. The S&P 500 Index was up 50.36 points at 3,969.61, while the Nasdaq Composite was up 189.04 points at 10,931.67.

The Canadian dollar traded for 74.49 cents U.S. compared with 74.51 cents U.S. on Tuesday.  

The February crude contract was up US$2.29 at US$77.41 per barrel and the February natural gas contract was up three cents at US$3.67 per mmBTU.

The February gold contract was up $2.40 at $1,878.90 an ounce and the March copper contract was up nine cents at US$4.17 a pound.