The Globe and Mail reports in its Friday edition that U.S. and Canadian stocks ended a volatile session higher Thursday, with indexes in both countries briefly losing ground late in the session after U.S. President Donald Trump repeated his threat that the United States will impose a 25-per-cent tariff on imports from Mexico and Canada. A Reuters dispatch to The Globe says that Mr. Trump's warning also immediately sent the loonie tumbling to 68.94 U.S. cents. Worries about Mr. Trump's possible tariffs and their impact on the U.S. economy and inflation have kept investors on edge. Mr. Trump indicated that his 25-per-cent tariffs on Canada and Mexico are coming Saturday, but he is still considering whether to include oil from those countries as part of his import taxes. Despite the tariff threat, the Canadian market outperformed, as heavily weighted materials stocks rallied along with the gold price. The S&P/TSX Composite Index closed up 334.95 points at 25,808.25, a record high. Tesla shares gained 2.9 per cent as Elon Musk vowed to launch long-awaited cheaper models in the first half of 2025 and start testing an autonomous ride-hailing service in June. Shares of Microsoft and Apple both dropped on quarterly results.