Energy and gold shares led Toronto stocks higher Tuesday, while U.S. markets were focused on the upcoming Federal Reserve interest rate decision.

At midday, the S&P/TSX composite was ahead by 64.22 points or 0.75% to 8604.04, while the TSX venture exchange was up 3.03 points or 0.2% to 1531.15. In New York, the Dow Jones industrial average was up 12.91 points or 0.13% to 10217.80. The Nasdaq was ahead by 5.46points or 0.29% while the S&P 500 had gained 3.11 points or 0.28% to 1125.31.

The Canadian dollar was up 0.35 of a cent to US77.61¢.

On Bay Street, higher prices for oil and gold helped push up the markets. The TSX energy sector was up 1.57% as the price of oil continued to rise Tuesday, up 22¢ to US$46.57 a barrel on supply concerns over Russia’s largest oil company and lower oil and gas production that resulted from hurricane Ivan. Gold shares jumped 1.71% as the price of gold climbed US$3.60 to US$408.50 an ounce in New York.

Tech stocks were also strong, gaining 1.29%. Financials were up 0.6%.

On Wall Street, strong earnings from financial services companies and upbeat economic data pushed stocks higher Tuesday, but many investors clung to the sidelines ahead of the Federal Reserve’s decision on interest rates, expected at about 2:15 p.m (E.T.).

On the earnings front, Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc posted higher-than-expected quarterly profits, fueled by surprising strength in bond trading and investment banking growth. Earnings rose 30 percent at Goldman Sachs and 5 percent at Lehman, pushing their shares up 2.1% and 3.2% respectively in mid-morning trading on the New York Stock Exchange.

Meanwhile, shares were down for two of four fund managers that received formal notices from the Ontario Securities Commission warning about improper trading. In separate releases, AGF Funds Inc., CI Fund Management and Investors Group’s I.G. Investment Management Ltd. said they received notices from the regulator. CI stock was off 26¢ or 1.6% to $15.89, while IGM Financial was down 25¢ or 0.73% to $34.05. AGF stock was unchanged at $17.35.