Canadian shares look headed for a bright start on Thursday, tracking gains in Asian and European markets, and higher bullion prices.
Some strong earnings reports are also likely to aid sentiment.
Meanwhile, investors will continue to follow the developments in the U.S., where Democrat Joe Biden looks set to become the next President, even the Republicans are poised to dominate the Senate.
On Wednesday, Canadian stocks ended modestly higher. The benchmark S&P/TSX Composite Index ended with a gain of 59.59 points or 0.37% at 15,998.74, well off the day's high of 16,111.67.
Canadian Natural Resources Ltd. (CNQ.TO) reported third quarter adjusted earnings per share of C$0.11 compared to C$1.04, prior year.
Bombardier (BBD_B.TO) reported third-quarter net income of $192 million or $0.05 per share compared to a loss of $91 million or $0.06 per share in the prior year.
Canadian Tire Corp. (CTC.TO) reported third-quarter net income of C$296.3 million or C$4.84 per share, up from C$197.2 million or C$3.20 per share in the prior year.
Barrick Gold Corp. (ABX.TO) reported that its third-quarter net income dropped to $882 million or $0.50 per share from $2.28 billion or $1.30 per share in the prior year.
Asian stocks moved higher on Thursday as former vice-president Joe Biden inched closer to the White House after pivotal victories in Michigan and Wisconsin.
European markets are up in positive territory as investors braced for the prospects of Biden as President and a divided Congress.
A Biden win and a Republican senate signaled a gridlock, but analysts are of the view that it would reduce the chances of tough financial regulations and higher taxes.
In commodities, West Texas Intermediate Crude oil futures for December are down $0.25 or 0.65% at $38.90 a barrel.
Gold futures are up $33.80 or 1.78% at $1,930.00 an ounce, while Silver futures are gaining $1.047 or 4.4% at $24.940 an ounce.
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