The Toronto stock market is poised to open higher following a holiday Monday that saw a huge gain on Wall Street.
All the major U.S. stock indexes rose about two per cent yesterday when the Toronto Stock Exchange was closed for a long weekend.
This followed data that showed better-than-expected U.S. and European manufacturing activity in July, strong earnings reports from European banks and news that China isn’t likely to take steps to slow its economy.
Stronger commodity prices are also set to give the TSX a boost.
The price of oil added 52 cents to US$81.86 a barrel following a gain of $2.39 yesterday.
Gold climbed $4.40 to US$1,189.80 an ounce, while the Canadian dollar added 0.41 of a cent to 97.66 cents US.
