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A weak U.S. jobs report further stoked hopes of interest rate cuts, while strong numbers in Canada helped to lift the loonie to a three-month high.

The S&P/TSX composite index closed up 3.16 points at 16,230.96.

In New York, the Dow Jones industrial average was up 263.28 points at 25,983.94. The S&P 500 index was up 29.85 points at 2,873.34, while the Nasdaq composite was up 126.55 at 7,742.10.

The Canadian dollar traded at an average of US75.28¢, up from an average of US74.75¢ on Thursday.

The July crude contract was up US$1.40 at US$53.99 per barrel and the July natural gas contract was up 1.3¢ at $2.34 per mmBTU.

The August gold contract was up $3.40 at US$1,1346.10 an ounce and the July copper contract was down 2.3¢ at US$2.63 a pound.