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Markets news: S&P/TSX composite up


Canada’s main stock index was up more than 150 points on the last day of trading before Christmas, while U.S. markets were also on the sunny side after a dramatic slide Thursday on both sides of the border.

The S&P/TSX composite index was up 156.99 points at 19,506.65.

The TSX was buoyed by strong gains in energy stocks, which gained more than four per cent Friday.

In New York, the Dow Jones industrial average was up 176.44 points at 33,203.93. The S&P 500 index was up 22.43 points at 3,844.82,while the Nasdaq composite was up 21.74 points at 10,497.86.

Markets were relatively quiet heading into the holiday weekend, but one thing stood out: the apparent absence of the usual “Santa Claus rally” that often lifts markets this time of year, said John Zechner, chairman and lead equity manager at J Zechner Associates.

“I think the Fed comments and the Fed actions two weeks ago really sort…

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