The Globe and Mail reports in its Thursday edition that North American stock markets closed slightly higher on Wednesday, as fresh U.S. inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates. A Reuters dispatch to The Globe says that the S&P/TSX Composite Index ended up 34.16 points at 20,057.89, its highest closing level since Sept. 20 and its fifth straight day of gains. Stocks had rallied on Tuesday after a softer-than-expected Consumer Price Index reading boosted optimism the Fed might be able to avoid raising rates further. Additional data on Wednesday showed the biggest decline in producer prices in 3-1/2 years in October on the back of cheaper gasoline, offering more evidence of easing price pressures. Also Wednesday, U.S. retail sales data showed a smaller-than-expected decline of 0.1 per cent in October. The Toronto market's technology sector added 2.1 per cent, while utilities rose 1.2 per cent and heavily-weighted financials ended 0.4 per cent higher. Energy was a drag, falling 1.2 per cent, as oil declined 2 per cent at $76.66 (U.S.) a barrel. Consumer staples was another weak spot, falling 2.6 per cent, as investors weighed the results of major food retailers.