Toronto stocks ended higher Tuesday, as the resource stocks led a rally across the broader index.

The S&P/TSX composite index lifted 78.79, or 0.58%, to 13,704.28.

Eight of the 10 TSX main sub-groups were up.

The energy index gained 0.68%.

Light, sweet crude gained 74¢ to close at US$78.23 a barrel.

EnCana Corp. gained 61¢, or 0.98%, to $63.00.

The materials index gained 1.97%, while the gold sub-index moved up 1.43%.

Gold futures gained $8.90 to close at US$721.10 an ounce.

Yamana Gold Inc. gained 21¢, or 1.76%, to $12.15.

The Canadian dollar leaped 0.98 of a cent to US95.99¢.

The S&P TSX Venture Exchange gained 47.26, or 1.77%, to 2,715.63.

In New York, markets shot ahead as investors cheered strong corporate earnings news and expectations that the U.S. Federal Reserve would cut interest rates next week.

The Dow Jones industrial average shot forward 180.54, or 1.38%, to 13,308.39, the Nasdaq composite index gained 38.36, or 1.50%, to 2,597.47, and the S&P500 advanced 19.79, or 1.36%, to 1,471.49.