Canadian Stocks Extend Upward Trend, Reach Record Closing High

(RTTNews) - After an early move to the upside, Canadian stocks remained firmly positive throughout the trading session on Thursday.

The S&P/TSX Composite Index extended a recent upward trend, climbing 154.57 points or 0.8 percent to a new record closing high of 18,844.57.

The continued strength on Bay Street after the U.S. House of Representatives passed a $1.9 trillion relief package, which President Joe Biden later signed into law.

Healthcare stocks helped to lead the way higher, with the S&P/TSX Capped Health Care Index spiking by 5.9 percent.

Substantial strength was also visible among information technology stocks, as reflected by the 2.5 percent jump by the S&P/TSX Capped Information Technology Index.

Energy stocks also showed a notable move to the upside as the price of crude oil for April delivery surged up $1.58 to $66.02 a barrel amid optimism about the outlook for demand.