Rising stocks in the energy and financial sectors helped boost the benchmark index of the Toronto Stock Exchange more than 3% on Friday.

The S&P/TSX composite index soared 292.52 points, or 3.16%, to end at 9,562.49, with all of its 10 main groups finishing higher.

The benchmark index rose 5.5% for the week, its biggest weekly gain since October 2002. The jump follows a 16% drop last week.

The TSX energy group gained 6.9% as oil rebounded $2 to $71.85 a barrel.

EnCana Corp. rose 7.3% at $49.88, while Canadian Natural Resources climbed 5.5% to $50.50.

The financial services group rose 1.9% with most banks higher after the standards board that sets Canadian accounting rules said it is going along with U.S. and international changes that will allow companies to reclassify some financial instruments to allow them to avoid fair-value accounting treatment.

CIBC rose 6.6% to $58.00, while Royal Bank of Canada 1.3% higher at $46.25.

The junior S&P/TSX Venture composite index added 8.33 points, or 0.89%, to 946.12.

The Canadian dollar slipped 0.38 of a cent to finish at US84.25¢.

In New York, U.S. stocks fell after dismal data on consumer confidence and construction.

A report from the University of Michigan showed the steepest monthly drop in U.S. consumer confidence on record during October.

Meanwhile, U.S. housing starts fell to a 17-1/2-year low in September.

The Dow Jones industrial average closed down 127.04 points, or 1.41%, at 8,852.22, while the S&P 500 dropped 5.88 points, or 0.62%, to 940.55. The tech-heavy Nasdaq composite index slipped 6.42 points, or 0.37%, to 1,711.29.

For the week, the Dow rose 4.8%, while the S&P 500 gained 4.6%. The Nasdaq rose 4.1%.

The week featured one of Wall Street’s best days ever on Monday, followed by it worst day since the 1987 stock market crash on Wednesday.