North American markets made muted gains Tuesday as investors look ahead to the next U.S. Federal Reserve meeting at the end of the month.

In Toronto, the S&P/TSX composite index added 45.68 points to 8,517.86. The junior S&P/TSX Venture composite index ended the day on a positive note, too. It added 6.91 points to 1,568.96.

Stocks finished higher in the U.S. The Dow Jones industrial average closed up 23.60 points at 10,395.07. The S&P 500 ended up 4.11 points at 1,134.41. The Nasdaq composite index closed up 19.77 points, or 1%, at 1,994.15.

Eight of the 13 sub-indices on the TSX composite Index finished in the black, including the financials, which led the day’s trading, gaining 1%. Gold issues came in second, gaining 0.98%. The biggest loser today was the utilities sector, which fell 0.84%.

The Canadian dollar rose 0.33¢ to US73.63¢ on speculation that the Bank of Canada could move interest rates higher in the fall.

American investors bought up shares of JDS Uniphase Corp. on news of a big investment in fiber optics. Overall, however, markets gains were restrained by the ongoing worries over Iraq and interest rates.