Toronto stocks moved higher Wednesday, as a rebound in commodities prices boosted resource stocks and led the broader market higher.

The S&P/TSX composite index gained 69.40 points, or 0.51%, to 13,774.54.

Eight of the 10 TSX main sub-groups were up on the session.

The energy index gained 0.86%.

Light, sweet crude futures gained $2.92 at US$94.09.

Petro Canada gained 15¢, or 0.29%, to $52.30.

The materials index moved up 2.44%, while the gold sub-index gained 1.46%.

Gold futures gained $15.70 to close US$814.70.

Iamgold Corp. gained 20¢, or 2.30%, to $8.88.

The Canadian dollar moved down 0.64 of a cent to US$1.0362¢.

The S&P TSX Venture Exchange surged 42.44 points, or 1.44%, to 2,998.76.

In New York, markets moved lower as investors absorbed news of continued subprime write offs from major banks and weighed the possibility of the U.S. Federal Reserve standing pat on interest rates at its next meeting.

The Dow Jones industrial average fell 76.08 points, or 0.57%, to 13,231.01, the Nasdaq composite index gave dropped 29.33, or 1.10%, to 2,644.32, and the S&P500 gave up 10.47, or 0.71%, to 1,470.58.