North American stock markets ended a wild first week of the year by rebounding strongly – on positive trade, employment and interest rate news – that swelled the price of oil.

Toronto’s TSX composite index closed up 213.87 points – to 14,426.62.

In New York, the Dow Jones industrial average gained 3.3 per cent or 746.94 points at 23,433.16 – while the S&P 500 index was up 84.05 points at 2,531.94.

The tech-heavy Nasdaq composite was up 4.3 per cent or 275.35 points at 6,738.86.

The Canadian dollar traded at an average of 74.57 cents US – picking up about half a cent from Thursday.

Oil was up 87 cents at US$47.96 per barrel – after nearly hitting US$50.

February gold was down US$9 at US$1,285.80 an ounce.