The Globe and Mail reports in its Thursday edition that U.S. and Canadian stock indexes closed higher on Wednesday as fresh economic data signalled a cooling U.S. economy, reinforcing expectations the Federal Reserve will pause rate increases in September. A Reuters dispatch to The Globe says that both the S&P 500 Index and S&P/TSX Composite Index reached their highest in nearly three weeks after an ADP National Employment report showed U.S. private payrolls increased by 177,000 jobs in August, compared with estimates of 195,000, suggesting a softening labour market. Fresh gross domestic product numbers also showed the U.S. economy expanded 2.1 per cent in the second quarter, slower than a preliminary estimate of a 2.4-per-cent growth. U.S. Treasury yields slipped to a near three-week low, with the 10-year yield at 4.12 per cent by late day. Barry Schwartz at Baskin Financial Services said there are "good vibes from dropping bond yields and markets anticipating that we're at the end of the rate hike cycle." The S&P/TSX Composite Index closed up 39.91 points at 20,330.32 on Wednesday. Energy stocks climbed 0.6 per cent as investors digested Hurricane Idalia's path and its effect on fuel demand.