TSX higher on rising oil Wall Street muted following Fed decision

TORONTO — The Toronto stock market extended gains for a second day as the price of crude hit a high not seen since November.The S&P/TSX composite climbed 78.22 points to 13,887.66 after the June contract for West Texas Intermediate crude shot up $1.29 to US$45.33 a barrel. It’s the first time oil has closed above US$45 in five months.The Canadian dollar also continued to benefit from the rise in oil, adding 0.02 of a U.S. cent to 79.25 cents US.Meanwhile, stock markets in New York were generally muted following the latest policy-rate statement by the U.S. Federal Reserve. The central bank left its benchmark interest rate unchanged, acknowledging that the U.S. economy slowed last month but that job market conditions are improving.The Dow Jones industrial average gained 51.23 points to 18,041.55, while the broader S&P 500 was little changed, up 3.45 points to 2,095.15. The Nasdaq composite shed 25.14 points to 4,863.14 as shares in Apple fell six per cent after the tech giant reported its first decline in quarterly revenue since 2003.In commodities, June natural gas was down a penny at US$2.15 per mmBtu, while June gold gained $7 to US$1,250.40 a troy ounce. July copper slipped two cents to US$2.22 a pound.

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