The Globe and Mail reports in its Thursday edition that U.S. and Canadian stocks rose Wednesday following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies. A Reuters dispatch to The Globe says the Dow rose 337 points to set a record, and the Nasdaq composite added 0.3 per cent. The S&P/TSX Composite Index gained 122.12 points to close at a record high of 24,561.20. Utility stocks were among the biggest advancers in Toronto, with investors finding encouragement from softer-than-expected inflation data on Tuesday, which helped to drive bond yields lower. Morgan Stanley rallied 6.4 per cent in New York after reporting stronger profit for the latest quarter than analysts expected. United Airlines flew 12.4 per cent higher after reporting a milder drop in summer profit than expected and announcing plans to send up to $1.5-billion (U.S.) to its shareholders by buying back its stock. Energy stocks were holding steadier, including a move higher for Exxon, a day after sliding to some of the market's worst losses. The price of oil has fallen back as worries recede that Israel will attack Iranian oil facilities. Artificial intelligence chipmaker Nvidia gained 3.1 per cent.