The Globe and Mail reports in its Friday, Dec. 15, edition that U.S. and Canadian stocks ended firmer on Thursday, with the Dow Jones Industrial Average notching its second straight record-high close, lifted by optimism that borrowing rates will decrease next year following a dovish pivot by the Federal Reserve. A Reuters dispatch to The Globe reports that interest-rate-sensitive banking stocks, like the Big Six banks, rallied in Toronto on bets that an expected drop in borrowing costs next year would boost credit growth and revive the housing market. On Friday, the Bank of Canada Governor Tiff Macklem is expected to deliver his final speech of the year, and investors will wait for clues for rate cuts in Canada. Canada's housing market slowed further in November, with higher interest rates denting demand, data from the Canadian Real Estate Association showed Thursday. However, CREA also noted that expectations of lower interest rates are expected to make the spring market more active. The S&P/TSX Composite Index rose 149.35 points, or 0.72 per cent, at 20,778.80, its highest close since June 8, 2022.