One day after hitting a record low, Bombardier Inc. shares helped lead Canadian markets higher on Tuesday, while U.S. investors were in a buying mood after the U.S. Federal Reserve Board said all was well with the economy.

At close, the S&P/TSX was up 53.59 points or 0.59% to 9086.36, while the TSX Venture exchange was mostly unchanged, losing 1.18 points or 0.07% to 1721.79. The Dow Jones industrials rallied in the afternoon, finishing up 38.13 points or 0.36% to 10676.45. The Nasdaq added 11.34 or 0.53% to 2159.84 and the S&P 500 gained 4.70 points or 0.39% to 1203.38.

The Canadian dollar was down 0.55 of a cent to US80.95¢ in late trading after Statistics Canada reported declining exports forced Canada’s merchandise trade surplus to its lowest level in a year in October, with the surplus down $600 million to $4.4 billion.

In Toronto, Bombardier stock bounced back after plunging to a record low $2.11, gaining 11¢ or 5.21% to $2.22 on volume of more than 54 million shares, making it the TSX’s most active. Bombardier’s performance helped pull industrial shares up 1.48% as a group.

But it was the TSX energy group that lead the way, adding 1.84% as the price of light, sweet crude on the New York Mercantile Exchange moved up 44¢ to US$41.45 a barrel. Crude prices have started moving higher again on concerns over heating oil supplies this winter.

Eight of the 13 TSX sub-groups were in the black, including financials, which advanced 0.43%.

Technology stocks, in positive territory in the morning, lost ground, closing down 0.95% as a group. Holding the group back was Research In Motion, which fell 5.13% to $105.00 after a U.S. appeals court ruled Tuesday that the company, maker of the BlackBerry e-mail device, infringed on another company’s patent — but sent the case back for further proceedings. RIM shares were halted pending news of the court decision, but resumed trading with about 35 minutes to go before close.

In New York, investors sat on their hands until 2:15 pm when the Fed raised interest rates as expected. But it also said inflation was in check and the economy is growing at a moderate pace despite a rise in energy prices. Interest rates were hiked by a quarter point, with the boar reiterating its view that future rate increases will be “measured.”

Both the S&P 500 and the Nasdaq hit multi-year highs on Tuesday. The Nasdaq reached its highest closing level since June 29, 2001, while the S&P 500 surpassed the 1200 mark for the first time since August 2001.