The Globe and Mail reports in its Thursday edition that Canadian stocks rose on Wednesday, including gains for resource and financial shares, as commodity prices climbed and U.S. economic data supported bets the Federal Reserve would begin lowering interest rates over the coming months. A Reuters dispatch to The Globe says that the S&P/TSX composite ended up 37.36 points at 22,112.46, staying close to the record closing high it posted on Monday at 22,185.25. Oil prices rose to $85.43 (U.S.) a barrel. The S&P 500 also saw a modest gain. "This is a classic TSX rally in that you've got the miners rallying, precious metals in particular, you've got energy rallying and you got the financials rallying," said Philip Petursson at IG Wealth Management. "This isn't a fluke. This is driven by fundamentals and these fundamentals can continue for a while yet. Gold is finally responding to not only inflation but the expectation for lower real interest rates," he said. Bond yields eased after data showed U.S. services industry growth eased further in March, suggesting inflation is slowing. Meanwhile, Atlanta Federal Reserve president Raphael Bostic said rates should likely not be reduced until the fourth quarter of this year.