North American stocks are poised to open higher Wednesday as momentum from the Federal Reserve’s US$200 billion capital injection looked set to carry over for a second day.

Markets skyrocketed Tuesday after Fed announced its plan to inject liquidity into markets.

Here at home, the Bank of Canada, working in conjunction with the European Central Bank and the Swiss National Bank, said it will auction $4 billion in repurchase agreements over the next month.

On today’s economic calendar are U.S. reports on weekly energy inventories and mortgage applications.

There are no major economic releases from Statistics Canada today.

The Canadian dollar opened at US101.27¢, up 0.6 cents from Tuesday’s close.

Oil futures fell 17¢ to $108.57 a barrel. Gold futures eased US$2.30 to US$973.70 an ounce.

In today’s earnings news, travel and airline company Transat A.T. Inc. reported a first-quarter loss of $10.1 million, or 30¢ a share, which came despite a 10.5% jump in revenue.

The company attributed the loss heavy competition and an additional $14 million writedown on its holdings of asset-backed commercial paper

The loss for the three months ended Jan. 31 compared with a profit of $2-million or 6 cents a share a year earlier and was distilled from revenue of $787.4-million, up from $712.3-million, Montreal-based Transat said Wednesday.

American Eagle Outfitters, Talbots and Gymboree are among companies set to report quarterly earnings.

Stocks moved sharply higher in Asia as moves by the Fed to boost liquidity cheered sentiment.

The Nikkei 225 Index rose 1.6% to 12,861.13 points on the Tokyo Stock Exchange. In Hong Kong, the Hang Seng Index rose 1.9% to 23,422.76.

In Europe, the UK’s FTSE 100 rose 1.9% to 5,798.50, the German DAX 30 advanced 1.7% to 6,636.38 and the French CAC-40 climbed 2.2% to 4,727.25.

On Tuesday, the S&P/TSX Composite index soared 339.44 points, or 2.61%, to end at 13,344.53, as the coordinated efforts of the central banks boosted investor confidence.

The junior S&P/TSX Venture composite index closed up 3.24 points, or 0.12%, to end at 2,667.37.

On Wall Street, investors went wild on news of the Fed’s liquidity injection and all indexes surged ahead.

The Dow gained 416.66 points, or 3.55%, to end at 12,156.81.

The S&P 500 gained 47.28 points, or 3.71%, to close at 1,320.65.

Meanwhile, the tech-heavy Nasdaq composite index ended up 86.42 points, or 3.98%, at 2,255.76.