Canada’s main stock index moved higher despite a big fall in oil prices, a day after a U.S. market hit a record high on China trade movements.

The S&P/TSX composite index closed up 89.09 points to 16,471.29 in trading after the Canada Day holiday.

In New York, the Dow Jones industrial average was up 69.25 points at 26,786.68. The S&P 500 index was up 8.68 points at 2,973.01 after hitting a record intraday high on Monday, while the Nasdaq composite was up 17.93 points at 8,109,09.

The Canadian dollar traded for an average of US76.25¢ compared with an average of US76.41¢ on Friday.

The August crude contract was down US$2.84 at US$56.25 per barrel and the August natural gas contract was down US2.7¢ at US$2.24 per mmBTU.

The August gold contract was up US$18.70 at US$1,408.00 an ounce and the September copper contract was down US2.4¢ at US$2.66 a pound.