The Globe and Mail reports in its Friday edition that the S&P 500 rose to a record closing high on Thursday, as investors assessed a mixed bag of corporate earnings and digested comments from U.S. President Donald Trump, including a call for cuts in interest rates and oil prices. A Reuters dispatch to The Globe says the Toronto Stock Exchange also gained, ending higher for the eighth session in a row. At the World Economic Forum in Davos, Switzerland, Mr. Trump demanded that OPEC lower oil prices and that central banks reduce interest rates, while he warned global business leaders they will face tariffs for products made outside of the United States. Investors have been concerned that tariffs could add to inflation pressures and slow the Federal Reserve's pace of interest-rate cuts. The Fed is expected to leave interest rates unchanged for the first half of 2025. The Fed, which has a policy meeting on Jan. 28-29, is expected to base rate decisions on economic data rather than presidential demands. The S&P/TSX Composite Index was up 122.58 points at 25,434.08, its highest closing level since Dec. 11. The consumer discretionary sector rose 1.3 per cent, helped by a gain of 4.4 per cent for Canadian Tire.