Tame U.S. inflation data and higher crude oil prices prompted Canada’s main stock index to resume its upward trajectory.

The S&P/TSX composite index closed up 59.84 points to 16,396.29.

In New York, the Dow Jones industrial average was up 6.58 points at 26,157.16. The S&P 500 index was up 10.01 points at 2,888.21, while the Nasdaq composite was up 54.97 points at 7,964.24.

The Canadian dollar traded at an average of US75.04¢ compared with an average of US75.10¢ on Tuesday.

The May crude contract was up 63¢ at US$64.61 per barrel and the May natural gas contract was up 0.1¢ at US$2.70 per mmBTU.

The June gold contract was up US$5.60 at US$1,313.90 an ounce and the May copper contract was down 0.85¢ at US$2.93 a pound.