Toronto’s main stock index shot higher on Friday, led by commodity-related issues, after upbeat U.S. home sales data and comments by Federal Reserve Chairman Ben Bernanke sparked optimism about an economic recovery.

The S&P/TSX composite index rallied 130.67 points, or 1.22%, to end at 10,831.18. For the week, the benchmark index ended the week down 0.2%.

The resource-heavy index climbed as the price of crude oil rose to its highest level of the year, driving energy stocks up.

Crude-oil futures rose above US$74 a barrel Friday to their highest level in 2009 before edging lower to settle up 98¢ at US$73.89 a barrel on the New York Mercantile Exchange. The October contract surged 6.1% this week.

In Toronto, Suncor Energy Inc. had the biggest impact on the benchmark index, rising 3.1%.

Among financial stocks,, Manulife Financial Corp. rose 2.1% and Toronto-Dominion Bank rose 1%. Canada’s banks report third-quarter earnings next week.

Among individual stocks, Research In Motion Ltd. rose 2.1%.

The junior S&P/TSX Venture composite index gained 7.56 points, or 0.64%, to end at 1,191.95.

The Canadian dollar shot up 0.46 of a cent to close at US92.43¢.

In New York, U.S. stocks ended the week at 2009 highs on Friday after a surprising rise in home sales and the optimistic comments from Bernanke.

The Dow Jones industrial average jumped 155.91 points, or 1.67%, to end at 9,505.96. The S&P 500 climbed 18.76 points, or 1.86%, to 1,026.13. The tech-heavy Nasdaq composite index rose 31.68 points, or 1.59%, to 2,020.90.

For the week, the Dow rose 2%, the S&P 500 gained 2.2% and the Nasdaq climbed 1.8%.

A 7.2% jump in the July sales of previously owned homes gave U.S. stocks a boost early in the session.

IE