The Globe and Mail reports in its Friday edition that the S&P 500 and the Dow enjoyed record closing highs on Thursday after a U.S. Federal Reserve policy update that was less hawkish than expected while the tech-heavy Nasdaq underperformed as Oracle's financial update made investors wary of artificial-intelligence bets. A Reuters dispatch to The Globe says the Toronto Stock Exchange also closed at another record. Oracle shares tumbled 10.8 per cent in their biggest one-day drop since late January and they were the top S&P 500 decliner after the company's quarterly forecasts fell short of analysts' estimates. It had also warned that annual spending would run $15-billion (U.S.) higher than previously planned, stoking fears about its big push into AI. While Oracle helped drag other technology names lower, the Dow rallied along with the Russell 2000 small-cap index and the S&P 500 value index. The S&P/TSX Composite Index ended up 169.88 points at 31,660.73, surpassing its record closing high Wednesday. "Incremental data that's been coming in for the Canadian economy recently has been quite positive, and that's helping this leg of the rally," said Elvis Picardo, a senior portfolio manager at Luft Financial.