A feeling of optimism blessed the markets today, as investors shrugged off yesterday’s comments by the U.S. Federal Reserve Board regarding the continuing economic slowdown.

The TSE 300 rose 65.65 points to close at 7,538.63, as rising oil and gas prices boosted Toronto stocks.

Overall, 12 of the TSE’s 14 sub-indices finished higher. The tech heavy industrial sub-index climbed 2.28%. The oil and gas sub-index rose 0.63%. Market volume was 131 million shares.

Battered Nortel Networks Corp. added 38¢ to $10.07, after hitting a new 52-week low of $9.67 in yesterday’s session.

Celestica Inc. soared nearly 8% today, gaining $4.45 to $60.85.

Talisman Energy Inc. gained 74¢ to $59.50, while Anderson Exploration Ltd. advanced 48¢ cents to $26.68.

After announcing an increase in second quarter earnings, yesterday, shares in Bombardier rose $1.06 to $20.70.

The CDNX Index closed down 16.73 at 3,063.97 Trading was active on a volume of 31.4 million shares, with 160 advances, 197 declines and 548 issues unchanged.

In New York, the Dow Jones industrial average rallied 102.76 points to 10,276.90. The S&P 500 added 8.05 points to finish at 1,165.31. The surging blue chips managed to coax the Nasdaq composite index to a gain of its own. The Nasdaq jumped 28.71 points to 1,860.01