Toronto’s stocks are gaining Thursday thanks to some strong economic data.

At midday, the S&P/TSX index is up 59 points to 7,697.

The Composite Index gained 1.2% in April after a 1.3% increase in March, the best consecutive advances in nearly 20 years.

Toronto volume is strong today at 101.3 million shares, with buying way ahead of the selling by about 13:5. Market breadth is also bullish, with winners holding a 10 to nine edge on losers.

The only weakness in the market today is the speculative side of things, where techs, telecoms and biotechs are all down. Traders are still worried about their near-term profit potential.

Almost everything else is rallying back, with financials leading the way, up 1.4%. There’s also strength in energy plays, materials and real estate. And, none of this has derailed the strength in golds, which continue to see safe haven buying.

While there is plenty of strength in the market today, it’s the financials that are moving the big chunks of market cap. Royal Bank’s shares are getting strong applause today, up 3.4% in heavy trading. Bank of Nova Scotia is up better than 2%, on reports that it is winding up its Argentine operations. There’s also strength in CIBC, TD Bank, Sun Life and Manulife Financial.

Golds remain a source of strength, too, with a 1.2% gain in Barrick leading the way higher. Placer Dome is up almost 3%, and there’s strength in TVX Gold too. However, Bema Gold and Pan American Silver are giving up some recent gains.

Other old economy winners include Noranda, Dofasco, EnCana, Canadian Natural Resources, Wheaton River Minerals, Air Canada and Ivaco.

On the downside, traders are shying away from names such as Nortel Networks, which is down 3% to $3.85 per share on 4.1 million shares. Also, Research in Motion, Descartes Systems and Biovail are sliding too. Gauntlet Energy, Shawcor and Storm Energy are lower at midday also.

In other news, Algoma Steel reported that Alexander Adam will be retiring from his posts as president and chief executive officer on August 31. A search for a new president and CEO has been initiated.

In New York, the early momentum has not been so easily sustained. Hopes for a strong day following some better than expected economic news have faltered as tech worries have taken over.

The Dow Jones industrial averages has lost its early gains, and is now down 71 points to 10,087. The S&P 500 has lost five ticks to 1,081. The Nasdaq composite index is down 21 points to 1,653.

New orders for U.S. durable goods orders posted a much stronger gain than expected in April, rising 1.1%.

The S&P/TSX Venture Index is weaker too, down six ticks to 1210. Volume is strong at 19.7 million shares. Pacific Tiger Energy is the day’s top trader, up a penny to 16¢ on 831,000 shares.