Strength in the technology, industrial and energy sectors helped Canada's main stock index post a triple-digit gain, while U.S. stock markets also pushed higher in late-morning trading.
The S&P/TSX composite index was up 105.66 points at 20,608.87.
In New York, the Dow Jones industrial average was up 380.45 points at 33,755.94. The S&P 500 index was up 58.56 points at 4,031.17, while the Nasdaq composite was up 231.96 points at 11,372.39.
The Canadian dollar traded for 74.73 cents US compared with 74.51 cents US on Friday.
The March crude oil contract was up 78 cents at US$82.42 per barrel and the February natural gas contract was up 17 cents at US$3.34 per mmBTU.
The February gold contract was down US$1.40 at US$1,926.80 an ounce and the March copper contract was up a penny at US$4.26 a pound.