Canada's main stock index climbed to a record high on Thursday, boosted by technology stocks, as investors cheered an outsized interest-rate cut by the U.S. Federal Reserve. The Toronto Stock Exchange's S&P/TSX composite index was up 210.

Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates

Do rate cuts with the stock market at or near all-time highs provide bulls additional fuel or do they portend trouble ahead? Dow Jones Market Data ran back the tape.