Canada’s main stock index inched higher while U.S. markets dipped after strong rallies since last month’s lows.

The S&P/TSX composite index closed up 21.44 points at 13,614.14.

In New York, the Dow Jones industrial average was down 26.13 points at 22,653.86. The S&P 500 index was down 4.27 points at 2,659.41, while the Nasdaq composite was down 25.98 points at 7,887.26.

The Canadian dollar traded for US71.50¢ compared with an average of US70.79¢ on Monday.

The May crude oil contract was down US$2.45 at US$23.63 per barrel and the May natural gas contract was up 12 cents at US$1.85 per mmBTU.

The June gold contract was down US$10.20 at US$1,683.70 an ounce and the May copper contract was up 5.5 cents at US$2.27 a pound.