North American stocks rallied Friday, with Toronto’s senior exchange powered ahead by the continuing commodities boom and the New York market hopeful the U.S. Federal Reserve would take a pause in its cycle of interest rate hikes.

The S&P/TSX composite index shot up 144.24, or 1.19%, to 12,270.11.

In New York, the Dow industrials rose 138.88 points, or 1.2% to 11,577.74. On the week, the Dow rose 1.9%, the Nasdaq Composite index climbed 18.67 points to 2,342.57, and gained 0.9% for the week, and the S&P 500 Index rose 13.51 points to 1,325.76, and was up 1.2% on the week.

Nine of the 10 TSX main sub-groups were up, with the energy sector gaining 0.63%.

Crude oil for June delivery ended up 25¢ at US$70.19 on the New York Mercantile Exchange.

Connacher Oil and Gas gained 32¢, or 7.80%, to $4.42.

The materials sector was up 1.75%

Gold for June delivery closed up $7.80 at $684.30 an ounce in trading on the Nymex.

Goldcorp Inc. gained 51¢, or 1.22%, to $42.29.

The financials index gained 1.93%.

Sun Life Financial gained 99¢, or 2.19%, to $46.10.

The Canadian dollar was off 0.02 of a cent at US90.33¢.

The S&P/TSX Venture Exchange index was up 38.69, or 1.23%, to 3,176.43.