Markets are set to open higher this morning on strong positive indicators and rising crude prices.

Early this morning, Dow Jones, S&P and Nasdaq futures had risen, sparking predictions of an all-time high for the Dow.

Optimism is boosted by a positive durable goods forecast.

Markets in Asia rose. The Nikkei 225 index gained 390.42, to 15,947.87. Stocks rebounded in China, boosting the Hang Seng index 213.43 points, to 17,521.51.

In Europe, a November contract for light, sweet crude was up US38¢, to US$61.39 a barrel at midday.

The Canadian dollar opened at US89.65¢, down 0.13 of a cent. Yesterday, it climbed 0.21 of a cent to US89.78¢.

North American markets closed higher Tuesday, as a positive U.S. economic report gave investors hope that the domestic economy still had strength.

The S&P/TSX composite index closed up 59.68, or 0.52%, to 11,642.

Six of the 10 TSX main sub-groups were down, but the energy index moved up 2.36%.

The benchmark November contract for light, sweet crude closed down 44¢ at US$61.01 a barrel, after hitting a high of $62 in intra-day trading.

Petro-Canada gained $1.09, or 2.56%, to $43.69.

The materials index shot up 2.33%, and the gold index surged 2.90%

The benchmark December gold contract rose $1.20 to US$597.10 an ounce.

Cambior Inc. gained 9¢, or 2.34%, to $3.93.

The financials sector was down 0.88%. Toronto-Dominion Bank lost 31¢, or 0.47%, to $65.76.