Canada's main stock index was up more than 250 points in late-morning trading, led higher by strength in the base metal and energy sectors, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 261.13 points at 18,990.79.
In New York, the Dow Jones industrial average was up 262.53 points at 31,300.21. The S&P 500 index was up 43.57 points at 3,888.65, while the Nasdaq composite was up 198.50 points at 11,560.35.
The Canadian dollar traded for 77.05 cents US compared with 76.65 cents US on Wednesday.
The August crude contract was up US$4.90 at US$103.43 per barrel and the August natural gas contract was up 62 cents at US$6.13 per mmBTU.
The August gold contract was up US$5.20 at US$1,741.70 an ounce and the September copper contract was up 12 cents at US$3.53 a pound.