North American stock markets are heading higher as investors continue to grow comfortable with signs that the U.S. Federal Reserve is getting ready to hike interest rates. In Toronto, the S&P/TSX composite index gained 42.13 points to 14,682.01, supported by gold and materials stocks. The Dow Jones industrial average added 107.59 points at 18,502.99, the broader S&P 500 composite index rose 11.34 points to 2,180.38, and the Nasdaq composite gained 13.41 points to 5,232.33. On Friday, Fed chairwoman Janet Yellen hinted in a conference speech that the case for raising rates is growing due to an improved economic outlook. The Canadian dollar was at 76.79 cents US, down 0.13 of a cent, as the October crude contract fell 66 cents at US$46.98 per barrel.

Source: thestar August 29, 2016 20:26 UTC