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TORONTO - A strong rebound on the Toronto stock market continued for a third session yesterday, with financial and commodity stocks leading the charge.

Toronto's S&P/TSX composite index jumped 302.5 points to 13,322.22 with all sectors gaining except for the health-care group. The gain comes on the heels of a 244-point surge Monday as financial stocks continued to recover from a weeks-long drubbing and commodity stocks rebounded after sustaining big losses last week.

In the U.S., New York markets were mixed as data showed another wrenching drop in American house prices and consumer confidence encouraged some profit taking after two days of strong gains.

Investors also took in a strong Canadian retail sales report.

Statistics Canada reported that sales rose for a third month in January, advancing 1.5 per cent to $35.8 billion. Excluding autos, retail sales were still up 1.3 per cent.

"This robust reading shows that the Canadian consumer just kept right on rolling along at the start of the year, in contrast to the stumbling start for U.S. spending," said BMO Nesbitt Burns deputy chief economist Doug Porter.

"The combination of tax cuts and price cuts are powerful sources of support, but the more lasting driver is the persistent strength in Canadian employment trends, which is now getting a big assist from rising wages."

The TSX Venture Exchange added 47.78 points to 2,529.53 while the Canadian dollar drifted 0.06 cent higher to 98.3 cents US.

New York's Dow Jones industrial average inched 16.04 points lower to 12,532.6.

The tech sector got a boost from Yahoo Inc. on speculation Microsoft Inc. will raise its takeover price for the Internet company beyond US$31 per share. Yahoo shares were up $1.21 at US$28.73.