Gains in the energy sector as the price of oil rose to top US$80 a barrel helped Canada's main stock index climb more than 200 points in late-morning trading, while U.S. stock markets also traded higher.
The S&P/TSX composite index was up 224.69 points at 18,532.60.
In New York, the Dow Jones industrial average was up 350.26 points at 29,485.25. The S&P 500 index was up 41.26 points at 3,688.55, while the Nasdaq composite was up 105.67 points at 10,935.17.
The Canadian dollar traded for 73.04 cents US compared with 72.85 cents US on Tuesday.
The November crude contract was up US$2.37 at US$80.87 per barrel and the November natural gas contract was down six cents at US$6.70 per mmBTU.
The December gold contract was up US$26.70 at US$1,662.90 an ounce and the December copper contract was up five cents at US$3.33 a pound.