The Globe and Mail reports in its Friday edition that U.S. and Canadian stocks ended higher on Thursday as hotter-than-expected economic data eased worries about a recession without raising fears of a Federal Reserve interest rate hike next week, while Arm Holdings soared in its Nasdaq debut. A Reuters dispatch to The Globe says the S&P/TSX Composite Index closed at 20,567.84, up 288.90 points. It was Toronto's biggest advance since June 2 and its highest closing level since July 31. SoftBank's Arm was valued at nearly $60-billion (U.S.) in a strong Nasdaq debut, with the chip designer's shares soaring nearly 25 per cent in their first day trading. "The game is back on. Capital markets are open for business," said Thomas Hayes at Great Hill Capital LLC. "You're going to see so many IPOs in the next 12 weeks your head is going to spin." American retail sales rose more than expected in August on higher gasoline prices, while initial claims for state unemployment benefits climbed to a seasonally adjusted 220,000 for the week ended Sept. 9 from 217,000 the week before. The Canadian energy sector rose 1 per cent as U.S. crude futures moved above $90 (U.S.) a barrel for the first time since November last year.