U.S. stock futures climbed Tuesday, ahead of an eagerly awaited interest rate decision from the U.S. Federal Reserve.

The Fed is widely expected to cut its key fed funds rate by a full percentage point.

Here at home, consumer prices increased by 1.8% in the 12-month period to February 2008, the slowest rate of growth in six months and a marked slowdown from the 12-month increase of 2.2% in January, Statistics Canada reported today.

The Canadian dollar opened at US100.83¢, up 0.76 of a cent.

In today’s earnings news, Wall Street investment bank Goldman Sachs Group said its fiscal first-quarter net income dropped 53% on US$2 billion in losses on residential mortgages, credit products and investments, interrupting 10 quarters in a row of higher year-over year earnings.

Separately, rival Lehman Brothers Holdings posted a 57% dip in earnings, hurt by weakness in fixed income.

In Canadian earnings news, HudBay Minerals Inc. said profit in the fourth quarter dropped to $28.5 million from $165.8 million due to the strong Canadian dollar, higher taxes and low zinc prices.

Internet gambling software provider CryptoLogic Ltd. reported a fourth-quarter profit of US$4.3 million, up from US$1.7 million a year earlier, as revenue rose to US$20.4 million from US$19 million.

Bus maker New Flyer Industries Inc. said its loss widened in 2007 after to US$130.7 million after it took nearly US$146 million in charges.

Crude oil gained US$1.36 to US$107.04 per barrel and gold was up US$6.40 at US$1,009 an ounce.

Overseas stock markets rebounded after sliding on Monday. Japan’s Nikkei stock average bounced up 1.5%, and Hong Kong’s Hang Seng index recovered 1.4%.

In Europe, the FTSE 100 rose 1.6% at midday in London, while Germany’s DAX index added 1.7% and the Paris CAC 40 was up 1.8%.

Global stock markets were hammered hard Monday as fears of a deepening credit crisis were ignited by news that J.P. Morgan bought ailing investment bank Bear Stearns for a mere US$2 a share.

In Toronto, the S&P/TSX Composite index closed down 300.69 points, or 2.27%, at 12,952.15.

The financials group fell 2.52%, The junior S&P/TSX Venture composite index fell 77.35 points, or 2.93%, to finish at 2,564.69.

In New York, markets regained much of the morning’s heavy losses as J.P. Morgan’s stock pushed markets forward amid the panic.

After a roller-coaster day, the Dow Jones industrial average gained 21.16 points, or 0.18%, to end at 11,972.25.

The S&P 500 shed 11.54 points, or 0.90%, to close at 1,276.60, while the tech-heavy Nasdaq composites index lost 35.48 points, or 1.6%, at 2,177.01.