Strength in the utility stocks helped lead Canada's main stock index higher in late-morning trading, while U.S. stock markets also rose.

The S&P/TSX Composite Index was up 86.36 points, or 0.46 per cent, at 18,959.83.

In New York, the Dow Jones Industrial Average was up 151.33 points at 33,204.20. The S&P 500 Index was up 19.96 points at 4,213.76, while the Nasdaq Composite was up 76.93 points at 12,928.17.

The Canadian dollar traded for 72.12 cents U.S. compared with 72.09 cents U.S. on Tuesday.

The December crude contract was up US$1.70 at US$82.72 per barrel and the December natural gas contract was down five cents at US$3.53 per mm/BTU.

The December gold contract was up 50 cents at US$1,994.80 an ounce and the December copper contract was up two cents at US$3.67 a pound.

This report by The Canadian Press was first published Nov. 1, 2023.