December futures on the S&P/TSX index were up 0.8% at 7:09 a.m. ET (11:09 GMT).
Materials stocks are expected to see a spike as prices of most non-ferrous metals, including copper and gold, gained on the pullback in the U.S. dollar and Treasury yields. [MET/L] [GOL/]
The heavyweight energy sector could also advance as oil prices rose more than $1 after the Fed kept benchmark interest rates on hold. [O/R]
The U.S. central bank maintained its benchmark overnight interest rate in the current 5.25%-5.50% range on Wednesday.
The Toronto Stock Exchange's S&P/TSX composite index closed up 205.53 points, or 1.09%, at 19,079.00 on Wednesday, with the overall sentiment supported by expectations that interest rates have peaked. [.TO]
Wall Street futures also got a boost on Thursday from hopes of an end to rate hikes, while a number of upbeat corporate forecasts also lifted sentiment. [.N]
Across the border, investors will be on the lookout for a report on factory orders for September, due at 10 a.m. ET, while weekly jobless claims data from the U.S. will also be on tap, expected at 08:30 a.m. ET.
In corporate news, a consortium led by Brookfield Asset Management accused Origin Energy's largest shareholder, AustralianSuper, of "holding the company hostage" after it rejected a sweetened A$16.4 billion ($10.55 billion) takeover offer for Australia's biggest energy retailer.
Canadian Natural Resources shares are expected to slip after the oil and gas producer reported lower third-quarter profit.
COMMODITIES AT 7:09 a.m. ET
Gold futures: $1,996.4; +0.5% [GOL/]
US crude: $81.54; +1.4% [O/R]
Brent crude: $85.7; +1.3% [O/R]
(Reporting by Khushi Singh in Bengaluru; editing by Eileen Soreng)
