The Globe and Mail reports in its Wednesday edition that the S&P 500 closed above 5,500 for the first time on Tuesday, boosted by gains in Tesla and megacap growth stocks, but volumes were thin ahead of the holiday on July 4 and the closely watched release of June non-farm payrolls on Friday. A Reuters dispatch to The Globe says that The S&P/TSX Composite Index ended up 78.01 at 21,953.80, its highest closing level since June 12. The U.S. job openings and labour turnover survey, or JOLTS, showed job openings increased in May after posting outsized declines in the prior two months, but layoffs picked up amid slowing economic activity. The data are the first in this week's series of U.S. job reports, particularly Friday's release of June non-farm payrolls, which will be crucial in assessing whether the U.S. labour market remains resilient against the backdrop of decades-high interest rates. The Canadian jobs report for June will also be released on Friday and will be an important data point in determining whether another Bank of Canada rate cut will arrive this summer. The Toronto Stock Exchange's energy sector Tuesday rose 1.5 per cent as the price of oil touched its highest level in more than two months.