The Globe and Mail reports in its Friday edition that on Thursday, Canada's main stock index closed at a record high, its first since March, 2022. A Reuters dispatch to The Globe reports that the three major U.S. indexes also achieved record highs. The S&P/TSX Composite Index ended up 41.55 points at 22,087.26, squeaking past the previous record closing high of 22,087.22. Scotia Wealth's Stan Wong says: "The overall data in North America shows that we will probably avert a recession which is what most investors feared in the better part of last year. ... More data that supports a soft landing in the economy and therefore more certainty of some rate cuts coming from the central banks this year. That's helping the markets." Bank of Canada deputy governor Toni Gravelle on Thursday said February's inflation figures were "very encouraging," adding the central bank would look at a broader set of data before its next interest rate announcement on April 10. Money markets expect both the Bank of Canada and the U.S. Federal Reserve to cut three times by the end of the year, representing 75 basis points of easing in both countries. Mr. Wong says, "We are seeing a nice broadening participation in all types of sectors."