Canada’s main stock index moved lower amid signals that the U.S. Federal Reserve may not cut interest rates as much as markets have expected.

The S&P/TSX composite index closed down 55.77 points at 16,253.46.

In New York, the Dow Jones industrial average was up 49.51 points at 26,252.24. The S&P 500 index was down 1.48 points at 2,922.95, while the Nasdaq composite was down 28.82 points at 7,991.39.

The Canadian dollar traded for an average of US75.23¢ compared with an average of US75.31¢ on Wednesday.

The October crude contract was down US33¢ at US$55.35 per barrel and the October natural gas contract was down US1.4¢ at US$2.16 per mmBTU.

The December gold contract was down US$7.20 at US$1,508.50 an ounce and the September copper contract was down US2.8¢ at US$2.56 a pound.