Canadian dollar and crude prices continue their recovery, TSX also up

TORONTO - Oil, the Canadian dollar and the Toronto stock market were all rallying today for the second consecutive day in late morning trading.

The loonie was at 70.64 cents US, up 0.61 of cent from Thursday's close, which marked the first time in a week that the dollar settled above the 70-cent US mark.

Oil climbed to US$31.30, an increase of $1.77.

The Toronto Stock Exchange also surged by 278.02 points at 12,313.88.

In New York, the Dow Jones industrial average was up 134.78 points at 16,017.46, the S&P 500 rose 27.38 points to 1,896.37 and the Nasdaq gained 86.53 points at 4,558.59.

Gold was up $2.20 at US$1,100.40 an ounce.