On the NYSE, the S&P and the Nasdaq crossed the 1,000 mark and 2,000 mark respectively for the first time since October last year, spurred by reports of 3.5 percent jump in home sales in June.

The energy sector was up three percent on the Toronto Stock Exchange which is the world's largest energy market with over 400 global oil and gas companies traded on it. The base metal sector also up 3.7 percent.

Canada's largest mining company Teck Resources Ltd was up 2.6 percent to $29.08 at the close. This sparked an almost seven percent rally for transport leader Canadian Pacific Railway Ltd, which closed at $51.21.

The gold sector too jumped 2.1 percent.