North American stock markets rallied Friday to close a week of losses with big gains, propelled by a more than 12 per cent jump in crude oil prices.
The March contract for crude oil shot up US$3.23 a barrel to US$29.44.
Toronto Stock Exchange’s S&P/TSX composite index was up 293.87 points or 2.4 per cent at 12,381.24.
In New York, the Dow Jones industrial average closed up 313.66 points at 15,973.84, while the broader S&P 500 advanced 35.7 points to 1,864.78 and the Nasdaq gained 70.67 points to 4,337.51. Read More…