The Globe and Mail reports in its Tuesday edition that the S&P/TSX Composite Index, S&P 500 and Nasdaq all reached new record closing highs on Monday, as hopes for global trade deals and possible rate cuts eased investor uncertainty. A Reuters dispatch to The Globe says the equity gains came as the Canadian dollar recouped all the ground it lost in a volatile preweekend move when U.S. President Donald Trump said he was halting trade talks with Canada. Both U.S. stock indexes ended the quarter with double-digit gains while Canada's main index rose 7.8 per cent in the three-month period. The Toronto Stock Exchange has now gained for four straight quarters, and is up 8.6 per cent since the start of the year. The TSX's strong performance underscores the reality that the index isn't the best representation of the underlying Canadian economy, which continues to struggle, said BMO Capital Markets senior economist Robert Kavcic. "BMO's strategy team continues to like Canadian equities given current valuations and a low earnings expectations bar. We just need some of this strength to bleed into the real economy," Mr. Kavcic said in a note. The S&P/TSX Composite Index on Monday ended up 164.79 points at 26,857.11.