Futures for Canada's benchmark stock index climbed higher on Wednesday supported by an uptick in crude oil, precious and base metals prices, while investors were hopeful of inflation cooling in the United States.
The TSX jumped 41.79 points to conclude Tuesday at 19,898.86.
Futures on the S&P/TSX index improved 0.2% Wednesday morning.
The Canadian dollar gave back 0.02 cents to 74.43 cents U.S.
Aritzia Inc is expected to report third-quarter earnings after markets close.
The Panama government doubled down on its order that metal miner First Quantum Minerals should halt operations at its flagship local copper mine, since it had been operating without a contract since 2017.
ON BAYSTREET
The TSX Venture Exchange soared 7.57 points, or 1.3%, Tuesday to 594.25.
ON WALLSTREET
Stock futures rose Wednesday as Wall Street looked to build on what has been a positive start to 2023 so far.
Futures for the Dow Jones Industrials gained 83 points, or 0.3%, early Wednesday to 33,931.
Futures for the S&P 500 picked up 12.5 points, or 0.3%, to 3,953.25.
Futures for the NASDAQ Composite took on 34 points, or 0.3%, to 11,316.
The moves come after the NASDAQ rose 1.01% on Tuesday to clinch its first three-day winning streak since November. The S&P 500 rose 0.7% and Dow increased 0.6%, and all three averages are positive for the young year.
2023 has brought a relief rally so far for more risky areas of the market, such as tech, but many investors are still cautious ahead of earnings season and further expected rate hikes from the Federal Reserve.
Wednesday features a light schedule for economic data, but investors will be gearing up for a key inflation report on Thursday and major bank earnings on Friday.
In Japan, the Nikkei 225 gained 1%, while in Hong Kong, the Hang Seng Index took on 0.5%.
Oil prices tallied $1.12 to $76.24 U.S. a barrel.
Gold prices brightened $5.50 to $1,882 U.S. an ounce.
