U.S. stock futures posted modest gains Tuesday as oil prices continued to sink.

Crude futures extended their recent decline in early electronic trade, with light sweet crude futures falling US$2.45 to US$118.96 a barrel.

Gold futures fell US$15.30 to US$884.30 an ounce

In today’s economic news, the U.S. Federal Reserve is widely expected to keep its target for the key fed-funds rate unchanged at 2% when it announces the results of its latest policy meeting at 14:15 ET.

There are no major economic releases from Statistics Canada today.

The Canadian dollar tumbled more than a cent early Tuesday as crude prices fell.

The Canadian dollar opened in Toronto at US96¢, down 1.36 cents from Friday’s close before a three-day holiday weekend.

In today’s earnings news, Procter & Gamble posted a 33% jump in fiscal fourth-quarter net as the consumer-products giant’s price increases and cost-
savings measures offset rising commodity prices.

Asian markets ended down Tuesday, with resource stocks broadly lower on extended declines in commodities prices.

In Tokyo, the Nikkei 225 reversed early gains to fall 0.1% to 12,914.66 on worries about the U.S. economy ahead of a Federal Reserve interest-rate decision.

European shares rose Tuesday, as some better news on the earnings front offset another pullback for oil producers and miners.

The German DAX 30 rose 2.4% to 6,498.89 and the French CAC-40 Index increased 1.4% to 4,340.16. The UK FTSE 100 Index traded up 1.17% to 5,382.60, as the retreat from commodities continued.

Canadian markets were closed on Monday due to a civic holiday.