Digital illustration of Financial economic growth concept

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

The S&P/TSX composite index closed up by 213.87 points to 14,426.62.

In New York, the Dow Jones industrial average gained 3.3%, or 746.94 points, at 23,433.16. The S&P 500 index was up by 84.05 points at 2,531.94, while the tech-heavy Nasdaq composite was up by 4.3% or 275.35 points at 6,738.86.

The Canadian dollar traded at an average of US74.57¢ compared with an average of US74.02¢ on Thursday.

The February crude contract was up by US87¢ US at US$47.96 a barrel after almost hitting US$50, and the February natural gas contract was up by US9.9¢ at US$3.04 per mmBTU.

The February gold contract was down by US$9 at US$1,285.80 an ounce and the March copper contract was up by US7.95¢ at US$2.65 a pound.