Source: The Canadian Press

The Toronto stock market appeared set to move slightly higher Monday as investors prepared for the start of Canadian earnings season while commodities were mixed.

The Canadian dollar rose 0.07 of a cent to 100.53 cents US.

On Wall Street, Dow Jones industrial average futures were up 12 points at 11,834. The broader Standard & Poor’s 500 futures were up one point at 1,281. and Nasdaq 100 index futures were up one point at 2,270.

Several key American companies issued their earnings, including McDonald’s Corp. which posted a 2% increase in profits. Oil services firm Halliburton Co. more than doubled its fourth quarter profit.

Other U.S. companies reporting Monday include American Express Co., CSX Corp. and Texas Instruments Inc. Investors will be watching for signs of improvement in business and consumer spending.

In Canada this week, earnings from the two major railroads — Canadian National Railways (TSX:CN) and Canadian Pacific Railway (TSX:CP) — are expected on Wednesday and fertilizer giant Potash Corp. of Saskatchewan (TSX:POT) on Thursday.

Commodities were mixed on Monday morning with the March crude contract on the New York Mercantile Exchange down 39 cents to US$88.72 a barrel.

Gold prices were ahead with the February bullion contract on the Nymex up $8.20 to US$1,349.20.

In corporate news, retail marketing company Pareto Corp. (TSX:PTO) says it will be acquired by The Riverside Company in a transaction worth about $108 million.

Overseas, Japan’s Nikkei 225 stock average gained 0.69%, while Hong Kong’s Hang Seng fell 0.31%.

London’s FTSE 100 index gained 0.28%, Frankfurt’s DAX fell 0.56% and the Paris CAC 40 was flat.