The Globe and Mail reports in its Friday edition that North American stocks closed higher on Thursday, winning back much of the previous day's losses, as U.S. economic data fuelled optimism that the Federal Reserve would ease monetary policy and revived investor risk appetite. A Reuters dispatch to The Globe says all three major U.S. stock indexes posted gains as chips surged, led by Micron Technology, after its better-than-expected quarterly forecast, putting the tech-heavy Nasdaq out front. The rally gained momentum as the session drew to a close, with the S&P 500 and the Nasdaq surging more than 1 per cent. The S&P/TSX Composite Index ended up 164.92 points at 20,765.73, after falling more than 1 per cent on Wednesday. The materials sector rallied 1.1 per cent, as gold and copper prices rose. BlackBerry shares dropped 13.5 per cent after the tech company forecast fourth-quarter revenue below analysts' expectations. In the U.S., all 11 major sectors of the S&P 500 ended in positive territory, and consumer discretionary stocks enjoyed the biggest percentage gains. Micron forecast quarterly revenue above market estimates, and its shares jumped 8.6 per cent on signs of a memory chip recovery in 2024.