Stocks look poised to advance on the heels of an upbeat U.S. jobs report. Although the U.S. unemployment rate rose to 5.7% in March, companies added 308,000 new jobs, the fastest rate in four years.

Economists had forecast a gain of 120,000 jobs.

The highly anticipated report released today by the U.S. Labor Department showed widespread hiring in industries across the economy.

Revisions to payrolls showed a stronger jobs market than previously thought. Companies added 205,000 jobs in January and February, instead of the 118,000 reported last month.

The civilian unemployment rate, however, ticked up 0.1 percentage point from 5.6% in February. That occurred because more job seekers entered the job market last month, but were unsuccessful.

There are no major economic releases from Statistics Canada today. However, there is a report that showed new vehicle sales in Canada in March were an improvement over a dismal February, but were still down compared to March 2003, representing the eight consecutive month of year-over-year declines.

Sales of new cars and light trucks totalled 145,975 in March, down 0.2 per cent from the same month in 2003, according to statistics compiled Thursday by DesRosiers Automotive Consultants Inc.

European stocks are up in midday trading.

In London, the FTSE 100 Share Index has gained 9.2 points, or 0.2%, to 4,419.90. In Frankfurt, the Xetra DAX Index gained 0.3% to 3,936.77. In Paris, the CAC 40 Index is up 0.4% to 3686.19.

Asian stock markets closed higher, with the Tokyo Nikkei rising 132.53 points, or 1.13%, to 11,815.95 points, its highest finish since June 2002.

In Hong Kong, the blue-chip Hang Seng Index rose 55.51 points, or 0.43%, to 12,731.76.

On Bay Street, the S&P/TSX composite jumped 66.15 points, or 0.77% , close at to 8,652 on Thursday, while the TSX Venture exchange was up 11.2 points or 0.6% to 1884.78.

The tech sector got a boost from telecom equipment giant L.M. Ericsson Telephone Co., which said profit margins expanded in the first quarter. Gold miners Wheaton River Minerals Ltd. and Iamgold Corp., which announced merger plans Wednesday continued to be among most active traders on the TSX.

On Wall Street, the Dow Jones industrial average closed up 15.63 points, or 0.15%, to 10,373.33. The S&P 500 gained almost six points, or 0.53%, to 1,132.17, while the tech-heavy Nasdaq composite index jumped 20.79 points, or 1.04%, to 2,015.01

Helping stocks was a report from the Institute for Supply Management, which showed substantial growth in the U.S. manufacturing sector in March. Economists had expected a decrease.