Toronto stocks recovered from earlier losses Thursday as traders shook off weak U.S. economic data. Orders for U.S. durable goods hit a five-year low in September.

The TSE 300 closed up 46.7t points to 6,943.69.

Seven of the TSE’s 14 sub-indices lost ground. Metals and minerals led with a -1.3%, loss while industrial products fell-0.64%.

Gold stocks posted the biggest gains, with the gold sub-index rising 2.38%.

Among the most active issues, Air Canada was unchanged at $3.15. Nortel slipped 2¢to $9.35.

Placer Dome climbed 18¢ to $16.83. Barrick Gold, Canada’s biggest gold miner, rose 65¢ to $25.30. Both companies released third quarter earnings today.

Manulife Financial fell 48¢ to $37.52. Clarica, which released it’s third quarter earnings today, gained 24¢ to $45.89.

Market momentum was positive with advances stepping on declines 559 to 449. Volumes was heavier than it has been recently with 123 million shares changing hands.

The CDNX Index closed up 7.11 at 2,945.30. Trading was active on a volume of 28.9 million, with 170 advances, 173 declines and 534 issues unchanged.

The Canada dollar ended the day at US63.54¢ up slightly from yesterday’s US63.53¢.

On Wall Street, the major indices came roaring back late this afternoon as broad-based buying interest returned. The Dow Jones industrial average soared 117.28 points, or 1.25%, to 9,452.90. Earlier in the session, it was struggling with a tripe-digit loss.

The Nasdaq composite index closed up 2.5%, or 43.93 points, at 1,775.47. The S&P 500 advanced 14.89 points, or 1.37%, to 1,100.09.