S&P/TSX composite down in late-morning trading amid losses in base metal stocks

TORONTO — Canada's main stock index was in the red in late-morning trading, weighed down by losses in base metal stocks, while U.S. stock markets traded higher.In New York, the Dow Jones industrial average was up 24.95 points at 38,011.35. The S&P 500 index was up 8.88 points at 4,976.11, while the Nasdaq composite was up 11.19 points at 15,293.20.The June crude oil contract was down 62 cents at US$81.60 per barrel and the June natural gas contract was up five cents at US$2.04 per mmBTU.

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"Equities had a strong first quarter 2024, so the fact that stocks are consolidating and even drifting lower is not entirely a surprise."

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