The Globe and Mail reports in its Friday, Nov. 22, edition that Canada's main stock index reached a record high on Thursday, fuelled by gains in energy and financial shares as commodity prices rose and the government proposed $6.3-billion in new spending to stimulate the economy. A Reuters dispatch to The Globe reports that the S&P/TSX Composite Index climbed 354.22 points, or 1.4 per cent, finishing at 25,390.68. All major sectors saw increases, with the financial sector up 1 per cent, aided by a 2.6-per-cent rise in Royal Bank of Canada. The technology sector rose 2.2 per cent, boosted by a 5.1-per-cent jump in Celestica shares. Analysts noted that the broad-based rally reflects underlying strength in the market. Energy advanced 1.8 per cent as the price of oil settled 2.1 per cent higher at $70.19 a barrel. Industrials added 1.8 per cent and the materials group, which includes fertilizer companies and metal mining shares, was up 1.3 per cent.
U.S. trading was choppy, with the blue-chip Dow and the S&P 500 hitting one-week tops. Dow Jones Industrial Average gains were aided by cloud company Salesforce's 3.1-per-cent advance. Nvidia added 0.5 per cent after teetering after its earnings release on Wednesday.
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