Financial sector leads Toronto market higher, U.S. markets also trade up

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The financial sector helped Canada's main stock index to a triple-digit advance in late-morning trading as the loonie also gained ground against the U.S. dollar.

In New York, the Dow Jones industrial average was up 339.76 points at 23,877.44. The S&P 500 index was up 37.86 points at 2,837.41, while the Nasdaq composite was up 43.97 points at 8,576.33.The Canadian dollar traded for 71.24 cents US compared with an average of 70.81 cents US on Thursday.

The June crude contract was down six cents at US$25.47 per barrel and the May natural gas contract was up nine cents at nearly US$1.78 mmBTU. The June gold contract was down US$25.00 at US$1,706.70 an ounce and the May copper contract was up five cents at US$2.34 a pound.

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