New York advances strongly; TSX posts 63-point gain after Tuesday's big drop

TORONTO -- The Toronto Stock Exchange posted a solid, double-digit gain, but it wasn't nearly enough to make up for Tuesday's sharp drop.

Toronto's S&P/TSX composite index closed up 63.35 points to 13,545.25, following a 377-point decline on Tuesday.

The Dow Jones industrial average of 30 stocks ended the day up 293.03 points at 16,351.38, while the broader S&P 500 index advanced 35.01 points to 1,948.86 and the Nasdaq gained 113.87 points to 4,749.98.

On commodity markets, the December gold contract fell $6.20 to US$1,133.60 an ounce, the October crude contract rose 84 cents to US$46.25 a barrel and the October contract for natural gas dropped 5.4 cents to US$2.648 per thousand cubic feet.

The loonie fell 0.28 of a cent to end the day worth 75.35 cents US.