The Globe and Mail reports in its Thursday edition that Wall Street ended higher on Wednesday after U.S. President Donald Trump suggested an end to the Middle East conflict could be close. A Reuters dispatch to The Globe says that Bay Street also rose, even as the energy sector and oil prices slumped. The U.S. will be "out of Iran pretty quickly" and could return for "spot hits" if needed, Mr. Trump told Reuters, hours before he was scheduled to address the nation about the war. Energy prices have spiked in the latest month, sparking fears of global inflation, as the conflict choked the flow of oil through the Strait of Hormuz. With Wednesday's gain, the S&P 500 remains down 4 per cent so far in 2026. The index is trading at under 20 times expected earnings. "We continue to see some optimism that the end of the war is near," said Angelo Kourkafas at Edward Jones. The S&P/TSX Composite Index ended up 189.91 points at 32,957.95, marking its highest closing level since March 11. The Toronto materials group rose 3.1 per cent as losses for the safe-haven U.S. dollar helped drive up the price of gold and copper. Shares of Ivanhoe Mines dropped 11.6 per cent. Of 10 major sectors in Toronto, just energy lost ground.