The Dow Jones industrials broke through 15,000 for the first time, boosted by a surprise improvement in the U.S. jobless rate.
The U.S. Labour Department says employers added 165,000 jobs in April, while both February and March numbers were also better than first thought.
The gains trimmed the U.S. unemployment rate to a four-year low of 7.5 per cent.
On Wall Street, the Dow was up 172.74 points at 15,005.32, a gain of 1.2 per cent. Meanwhile, the S&P 500 index surged 19.57 points, or 1.2 per cent, to 1,617.16.
In Toronto, the S&P/TSX composite index was 142.76 points higher at 12,522.40.
The Canadian dollar was down 0.05 of a cent at 99.13 cents (U.S.).
In commodities, the June crude contract on the New York Mercantile Exchange rose $1.83 to $95.82 a barrel. June gold bullion was up 60 cents at $1,468.20 an ounce.
Follow us on Twitter: