The Globe and Mail reports in its Thursday edition that Canada's main stock index rose on Wednesday to more than two-month highs as investors grew more optimistic about the economic outlook, with financials among the sectors that gained ground. A Reuters dispatch to The Globe says that the S&P/TSX Composite Index ended up 114.6 points at 20,491.17, its highest closing level since May 15. "It doesn't look like we will see a major credit crunch any time soon and that could mean good news for the recovery that takes hold next year," Edward Moya, senior market analyst at Oanda, said in a note. The rally has come amid signs of easing price pressures in developed economies, including Canada. Data on Tuesday showed that Canadian inflation eased in June to a 27-month low of 2.8 per cent. Credit markets are pricing in only about a 20-per-cent chance of a further Bank of Canada rate increase at its next policy meeting in September. The Dow Jones Industrial Average registered its eighth straight day of gains as investors gauged the latest round of corporate earnings, but a decline in Microsoft held Nasdaq near the unchanged mark. Reuters notes that it was the Dow's longest winning streak since September, 2019.