September futures on the S&P/TSX index were up 0.1% at 6:50 a.m. ET (1050 GMT).
The TSX benchmark index closed more than 1% higher on Tuesday as overall market sentiment got a lift after monthly U.S. job openings dropped, bolstering bets around a pause in interest rate hikes by the U.S. Federal Reserve.
Oil prices climbed after industry data showed a large draw in crude inventories in the U.S., and a Category 4 hurricane in the Gulf of Mexico keeping investors on edge.
On the data front, the U.S. ADP National Employment report and second-quarter gross domestic product (GDP) estimate numbers are due later in the day.
Other economic data scheduled for this week include Canada's second-quarter GDP, U.S. personal consumption expenditures price index and non-farm payrolls.
In company earnings, National Bank of Canada posted a drop in its third-quarter adjusted profit as the lender set aside more capital to cover for potential bad loans.
Along with the National of Bank of Canada, four of the big six Canadian banks - Toronto-Dominion Bank, Bank of Nova Scotia and Bank of Montreal have missed third-quarter profit estimates on higher loan provisions.
The only exception has been Royal Bank of Canada which beat analysts' estimates, while Canadian Imperial Bank of Commerce is set to report quarterly earnings on Thursday.
COMMODITIES AT 6:50 a.m. ET
Gold futures: $1,945.7; 0.0% [GOL/]
US crude: $81.79; +0.8% [O/R]
Brent crude: $86.03; +0.6% [O/R]
($1= C$1.3558)
(Reporting by Siddarth S in Bengaluru)
