TSX Composite Closes Above 24,000 for First Time, U.S. Markets Also Surge

Boosted by strong base metals and economic optimism, Canada's main stock index and U.S. markets hit record highs.

The S&P/TSX Composite Index closed at a record 24,033.83 points, driven by gains in base metals and materials sectors.
U.S. markets also saw significant increases, with the Dow Jones Industrial Average rising to 42,175.11 and the S&P 500 reaching 5,745.37.
Economic data from the U.S. showed a 3% annual growth rate in the second quarter and fewer unemployment claims, boosting investor confidence.
The Bank of Canada's recent rate cuts and China's economic stimulus measures contributed to the stock market rally.
Energy stocks lagged as oil prices fell, influenced by Saudi Arabia's plans to increase output and abandon its $100-per-barrel price target.