The Toronto Stock Exchange closed the trading day by setting a new record Tuesday.
It surpassed 15,000 points for the first time in its history.
The S&P/TSX composite index ended the day at 15,047.34, up 63.14 points.
Business News Network's Michael Kane said the TSX got off to a strong start only a few minutes into the day's trading session.
Oil also rose dramatically on Tuesday -- nearing $130 per barrel at the end of trading. That helped fuel the TSX's new record.
"There was some economic data coming from the U.S. today suggesting they may be in a bit of an inflation situation, and that's driving the U.S. dollar down -- which operates inversely with the price of oil and gold," Kane said.
BNN's Michael Hainsworth told Â鶹´«Ã½net that in addition to increasing oil prices, the tech sector is helping the TSX.
"We've also been seeing a lot of strength in base metals -- zinc, copper -- all of these kind of products that the world needs to build out their infrastructure," he said.
The TSX, overall, is now up about 24 per cent from the low reached in January when the U.S. sub-prime mortgage troubles first became evident.
The Canadian economy, however, has weathered an economic downturn better than the U.S. The Dow-Jones industrials dropped Tuesday by 199.48 to 12,828.68.
Although, the TSX appears to be heading on an upward path, Bell Canada Enterprises stock -- among the most influential in the TSX -- took a tumble.
There is uncertainty surrounding a planned corporate takeover -- the largest in Canada's history.
BCE stock was hurt by a Monday report in The New York Times that said major banks funding the $52 billion takeover were thinking about amending the terms of the financing with the buying groups -- led by the Ontario Teachers' Pension Plan.
"When they got together and hammered out the terms of the deal things were actually doing quite well in the credit markets over all," Hainsworth said.
"But since things have tightened up and the lending restrictions have increased these banks are saying you know what we need a little bit more money, first of all. We need higher interest rates on this."
In addition, a similar U.S. deal with Clear Channel Communications resulted in a drop in that company's shares.
Some of the lenders in the Clear Channel deal are also involved in the BCE deal.
