Strength in the base metal and financial stocks helped Canada's main stock index rise more than 150 points in late-morning trading, while U.S. stock markets also climbed higher.

The S&P/TSX composite index was up 175.08 points, or 0.85 per cent, at 20,775.89.

In New York, the Dow Jones Industrial Average was up 241.93 points at 37,323.93. The S&P 500 Index was up 34.95 points at 4,733.30, while the Nasdaq Composite was up 121.60 points at 14,899.54.

The Canadian dollar traded for 75.19 cents U.S. compared with 75.01 cents U.S. on Wednesday.

The February crude oil contract was down 30 cents at US$73.92 per barrel and the February natural gas contract was up eight cents at US$2.43 per mmBTU.

The February gold contract was up US$5.80 at US$2,053.50 an ounce and the March copper contract was up a penny at US$3.91 a pound.

This report by The Canadian Press was first published Dec. 21, 2023.