Bay Street overcame a flat start this morning to close up while New York put together another strong session as well.
Financial and tech gains made up for losses in the natural resources sector as the TSX finished the day at 15,407, up 79 points. The Dow Jones was up 306 points to close at 25,200, its fifth positive day in a row.
Analysts say the recent volatility on the market, which was caused by a U.S. jobs report has lessened. It had triggered worries over the potential of sooner than expected interest rate increases to cope with inflation. There was no similar selloff following a report yesterday of higher consumer prices south of the border and a report today that wholesale prices rose last month within expectations.
The Bank of Canada is proposing a closer working relationship with the federal government. The idea is to get ahead of future ruts in the economy by correlating government spending and interest rate relief.
-And gold was down $2.70 to $1,355 an ounce, oil is up 86 cents to $61.46 U.S. per barrel, and the dollar is up slightly to 80.05 cents U.S.