National Business

TORONTO — Canada's main stock index gained 1.2 per cent Thursday in a broad-based rally, while U.S. markets also soared to trade near recent record highs.

NEW YORK (AP) — Wall Street rallied to one of its best days of the year Thursday after data showed the U.S. economy is holding up better than expected , with particular credit going to the country’s shoppers . The S&P 500 jumped 1.

OTTAWA — Labour Minister Steven MacKinnon has rejected a request from Canadian National Railway Co. for binding arbitration as the clock ticks down to a potential lockout of its employees.

TORONTO — OMERS says it earned a net investment return of 4.

TORONTO — RBC and TD Bank Group have agreed to pay tens of millions of dollars in penalties after being charged by the U.S. Securities and Exchange Commission over recordkeeping violations. RBC Capital Markets has agreed to pay US$45 million.

WASHINGTON (AP) — Americans stepped up their spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates.

OTTAWA — Canada's housing market softened slightly in July from a month earlier as sales of existing homes dipped and new listings inched up, the Canadian Real Estate Association said. Sales were down 0.

NEW YORK (AP) — Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything e

Exchange-traded funds have become wildly popular among investors, particularly young people who use do-it-yourself investing platforms that can auto-invest client money in ETFs.

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week, another sign that the job market remains resilient in the face of high interest rates.