The Globe and Mail reports in its Friday edition that the S&P 500 closed at an all-time high for a fifth straight session Thursday after data showing strong U.S. economic growth in the fourth quarter boosted sentiment. A Reuters dispatch to The Globe says Toronto notched a 20-month high, aided by a rally in the energy sector. The gains extended a rally in which the S&P 500 recently hit record highs for the first time in two years, lifted by optimism about the economy and lower interest rates. Tesla fell 12 per cent to its lowest since May, 2023, after chief executive officer Elon Musk warned sales growth would slow this year amid price cuts that have hurt its margins. That left the carmaker's stock market value at about $580-billion (U.S.), below Eli Lilly and just above Broadcom. The U.S. economy grew faster than expected in the December quarter amid strong consumer spending, confounding predictions of a recession after the Federal Reserve aggressively raised interest rates, with full-year growth of 2.5 per cent. The S&P/TSX Composite Index ended up 75.76 points at 21,101.54, its highest close since May, 2022. The energy group enjoyed higher oil prices; they settled up 3 per cent at $77.36 (U.S.) a barrel.