Canada’s main stock index started the trading year higher in a volatile day that saw the key energy sector get a boost from higher oil prices.

The S&P/TSX composite index closed up by 24.30 points at 14,347.16.

In New York, the Dow Jones industrial average ended the day up by 18.78 points at 23,346.24. The S&P 500 index was up by 3.18 points at 2,510.03, while the Nasdaq composite was up by 30.66 points at 6,665.94.

The Canadian dollar traded at an average of US73.53¢ compared with an average of US73.30¢ on Monday to close out 2018.

The February crude contract was up by US$1.13 at US$46.54 a barrel and the February natural gas contract was up by US1.8¢ at US$2.96 per mmBTU.

The February gold contract was up by US$2.80 at US$1,284.10 an ounce and the March copper contract was down by US0.8¢ at US$2.62 a pound.