Canada's main stock index regained some of its recent losses as it rose more than 400 points in early trading, while U.S. stock markets also rallied higher.
The S&P/TSX composite index was up 457.00 points at 19,338.19.
In New York, the Dow Jones industrial average was up 715.04 points at 30,205.93. The S&P 500 index was up 101.08 points at 3,779.51, while the Nasdaq composite was up 354.12 points at 11,169.56.
The Canadian dollar traded for 73.42 cents US compared with 73.20 cents US on Monday.
The November crude contract was up US$1.57 at US$85.20 per barrel and the November natural gas contract was up 16 cents at US$6.63 per mmBTU.
The December gold contract was up US$24.30 at US$1,726.30 an ounce and the December copper contract was up two cents at US$3.43 a pound.