North American stock markets looked poised to open higher on Thursday, as a combination of good economic news is expected to encourage investors.

In Toronto, the senior Canadian stock market is expected to recover as commodities prices bounced back in overseas markets overnight after a three day beating.

In the U.S., better-than-expected quarterly results from Alcoa Inc. helped lift European stocks and draw global equities out of the red, while currency markets reversed some of their recent cautious patterns. Alcoa’s results gave a positive tone to the start of the second-quarter earnings season.

Additionally, the U.S. Labor Department says the number of newly laid-off workers filing initial claims for jobless benefits fell sharply last week. The number of first-time jobless claims fell by 52,000 to a seasonally adjusted 565,000, the lowest level since January. It was also significantly below analysts’ expectations of 605,000.

Overseas, Japan’s Nikkei 225 Average finished down 1.4% at 9291.06, taking its losses into a seventh straight session. China’s Shanghai Composite rebounded after Wednesday’s decline to end up 1.4%. The gains in Shanghai helped Hong Kong’s benchmark index, which also ended higher, to overcome early losses. The Hang Seng index rose 0.4% to 17,790.59.

Also in Asia, South Korea’s Kospi ended flat, Australia’s S&P/ASX 200 slipped 0.1%, New Zealand’s NZX-50 gave up 0.3% and Taiwan’s Taiex advanced 1.2%. India’s Sensex was flat and Singapore’s Straits Times climbed 2.1%.

In Europe, Britain’s FTSE 100 was down 1.40 points, or 0.03%, at 4,185.60, at midday. Germany’s DAX rose 61.50 points, or 1.3%, at 4,634.15. The CAC-40 in France was up 24.25 points, or 0.8%, to 3,033.96.

On Wednesday, the Toronto Stock Exchange closed with a hefty triple-digit loss for a third consecutive day as a continued slide in commodities prices dragged down energy and resources stocks.

The S&P/TSX composite index tumbled 190.90 points, or 1.9%, to close at 9,653.45.

The S&P/TSX Venture composite index also closed lower, shedding 35.54 points, or 3.3%, to end at 1,034.02.

In the U.S., the Dow Jones industrial average added 14.81 points, or 0.2%, to 8,178.41.

The S&P 500 Index fell 1.47 points, or 0.2%, to 879.56.

The Nasdaq Composite edged up 1 point, or 0.1%, to end at 1,747.17.