The Globe and Mail reports in its Wednesday edition that U.S. stocks rose Tuesday and the S&P 500 hit a closing record after a flurry of economic data that included a reading of economic growth pushed bond yields higher and elevated growth names. A Reuters dispatch to The Globe says it was the U.S. benchmark's first record close since Dec. 11. Canada's main stock index also closed at a record, with all-time fresh peaks in metals prices helping the advance. The Commerce Department said U.S. gross domestic product increased at a 4.3 per cent annualized rate in the third quarter, the fastest pace since the third quarter of 2023 and well above the 3.3-per-cent estimate of economists polled by Reuters, fuelled by robust consumer spending. While the data was delayed due to the 43-day government shutdown and many analysts expected the fourth quarter would show a slower pace of economic growth, markets are now pricing in a smaller chance of a January rate cut from the Federal Reserve, and shorter-dated bond yields rose. The S&P/TSX Composite Index ended up 58.63 points at 32,058.73, its fourth straight day of gains and notching another record high. The materials group was up thanks to gold's price increasing 1 per cent.