Investors continued to display a holiday spirit as markets were up on both sides of the border Tuesday morning.

At midday, Toronto’s S&P/TSX composite index was up 47.32 points or 0.52% to 9224.26 with more than 141.5 million shares trading hands. The TSX Venture Exchange points climbed 3.00 points or 0.17% to 1739.91. The Dow industrials had gained 67.54 points or 0.63% at 10729.14. The Nasdaq was up 12.80 points or 0.60% to 2140.65, while the S&P 500 gained 5.81 points or 0.49% to 1200.46.

The Canadian dollar was up 0.13 of a cent at US81.47¢.

In economic news, the Statistics Canada said retail sales jumped 1.4% to a $29.6 billion in October, mostly due to a rebound in auto sales and price-induced gains at gasoline stations. Excluding auto sales, retail sales were up 0.1%.

In Toronto, demand for commodities — particularly base metals and oil — has driven the Toronto market in recent months as the exchange’s metals and energy stocks made significant gains. On Tuesday, mining and industrial sectors lead the way. Mining stocks were up 0.85%, while energy shares gained 0.55% and gold was up 0.64%.

Industrials were ahead 0.75%, as Canadian Pacific railway added 3.53% to $40.80. Bombardier shares were losing 2.7% to $2.16 with more than 10.5 million shares being traded.

Financial stocks were up 0.61%.

Overall, only three of the 13 TSX sub-indices were in the red Tuesday morning.

In New York, U.S. stocks climbed got help from Pfizer Inc. after investor fears of the withdrawal of its arthritis drug Celebrex were calmed..

As confusion over the safety of several big-selling painkillers increases following a study showing the popular drug naproxen raised the risk of heart attack and stroke in Alzheimer’s patients, Pfizer could benefit, analysts said.

Pfizer’s shares rose 3.1% to $25.04 as investors became even less concerned that the U.S. Food and Drug Administration will force Pfizer to withdraw its arthritis drug Celebrex, which was shown in a recent cancer-prevention trial to increase the rate of heart risk when the drug was taken at high doses.

In overseas markets, London’s FTSE 100 index was up 5.7 points at 4,736.8.

Frankfurt’s DAX 30 was down 0.07%, while the Paris CAC 40 was up 0.12%.

Asian stock markets closed mostly higher, with the main index rising slightly in Tokyo and reaching a record high in Australia.

Tokyo’s Nikkei Stock Average of 225 issues rose 22.5 points, or 0.2%, to 11125.02 points. Buying of banking issues led the rise after Credit Suisse First Boston lifted its rating on Japan’s banking sector to its top “overweight” rank from “market-weight,” saying bank earnings are set to improve.

Australian shares were boosted by optimism about the economic prospects of the country’s economy. The benchmark S&P/ASX 200 Index rose 20.20 points, or 0.50%, to a closing record high of 4,013.6.

In Hong Kong, the blue-chip Hang Seng Index slipped 33.25 points, or 0.23%, to 14,180.79. The market was pushed down by selective profit-taking in the absence of any major positive news, brokers said.

In earnings news, investment banks Morgan Stanley and Bear Stearns Cos. Inc. reported better-than-expected earnings. But Morgan Stanley fell 0.47% to US$53.40 as it posted disappointing revenue. Bear Stearns fell 1.9% to US$102.53, which analysts plugged to profit taking following the stock’s run-up.

Oil prices slipped as milder weather in the immediate term eased concerns about thin fuel stocks, but worries about possible supply disruption in the Middle East and Russia limited selling.

U.S. light crude was down 8¢ at US$45.70 a barrel.