Toronto stocks moved up Wednesday, after losing 300 points in the previous session, as investors cautiously bought back into the market.

The S&P/TSX composite index gained 56.34 points, or 0.52%, to 10,960.68.

The bench mark index has dropped 1,000 points since June 2.

Half of the 10 TSX main sub-groups were up, with the energy sector rebounding 2.24%.

Light, sweet crude for July delivery ended up 58¢ at US$69.14 a barrel.

Petro-Canada moved up $1.13, or 2.45%, to $47.24.

The gold sub-index also bounced back up, gaining 1.83%, despite a further modest drop in the price of bullion. Gold for August delivery fell 30¢ to close at US$566.50 an ounce on the New York Mercantile Exchange.

Glamis Gold gained 63¢, or 1.86%, to $34.49.

The financials sector lost 0.76%, asinterest rate hikes looked more likely.

However, Bank of Nova Scotia gained 16¢, or 0.36%, to $44.66.

The Canadian dollar slipped a tenth of a cent to US89.77¢.

The S&P/TSX Venture composite index gained 60.80 points , or 2.58%, to 2,415.57.

In New York, the Dow Jones industrial average rose 110.78 points to 10,816.92, as investors piled back in after yesterday’s losses.

The Nasdaq composite index closed up up 13.53 points at 2,086. The S&P 500 Index rose 6.35 points to 1,230.04.

American markets gained, even though the U.S. government said core inflation rose 0.3% for the third month in a row, all but guaranteeing that the Federal Reserve will boost interest rates later this month.