08/27/2015 08:22 EDT | Updated 08/27/2016 01:12 EDT

Overseas markets, U.S. index futures point to positive open on TSX; loonie up

TORONTO — North American stock markets seem poised to continue their recovery from the big declines felt around the world early this week.

The Dow Jones industrial futures were up 134.0 points at 16,383.0 before U.S. and Canadian markets opened, while the Nasdaq futures gained 41.50 points to 4,256.0, and the S&P 500 futures advanced 13.9 points to 1,952.0.

Major European indexes were up and China's Shanghai index and Japan's Nikkei closed higher, hours before the North American market open.

The Canadian dollar was up half of a U.S. cent, gaining 0.53 to 75.59 cents US.

On the commodity markets, the December gold contract rose $1.30 to US$1,125.90 an ounce, the October crude contract was up $1.40 at US$40 a barrel and the October contract for natural gas was down three cents at US$1.29.

On Wednesday, the S&P/TSX index in Toronto soared 230.66 points, or 1.75 per cent, to close at 13,381.591 and the Dow Jones industrial average in New York shot up 619.07 points or almost four per cent to 16,285.51.

The Canadian Press