TSX, Dow hit record highs to end the week
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TSX, Dow hit record highs to end the week

THE CANADIAN PRESS/Frank Gunn

The Toronto Stock Exchange’s main index and major New York indices all soared to record highs Friday partly on news that U.S. President Donald Trump will soon reveal his tax policy.

On Bay Street, the S&P/TSX composite index advanced 111.82 points to 15,729.12, shattering a previous record close of 15,657.63 set on Sept. 3, 2014.

South of the border, the Dow Jones industrial average gained 96.97 points to 20,269.37 and the S&P 500 advanced 8.23 points to 2,316.10. The Nasdaq composite index meanwhile rose 18.95 points to 5,734.13 for its fourth consecutive day of all-time highs.

The rally comes after Trump promised on Thursday that he is preparing the business-friendly tax plan the markets have been waiting for since his Jan. 20 inauguration, with plans to release them in the near future.

Meanwhile, the loonie rose 0.32 of a U.S. cent to 76.42 cents US.

The March crude contract rose 86 cents to US$53.86 per barrel, while the April gold contract shed 90 cents to US$1,235.90 an ounce.

March natural gas fell 10.7 cents to about US$3.03 per mmBTU and March copper contracts rose about 11.5 cents to around US$2.77 a pound.