Stocks look set to rebound Wednesday morning ahead according to futures-market activity.

In today’s earnings news, Bombardier said a strong order book in the latest first quarter gave the firm a profit of US$55 million, after posting a loss of US$174 million in the same period a year earlier.

In other business news, a consortium led by Brascan Corp. subsidiary Brookfield Properties Corp. is buying both O&Y Real Estate Investment Trust and O&Y Properties Corp. for about $2 billion.

In today’s, the Institute for Supply Management will release the May manufacturing report at 10:00. Economists expect a decline to a reading of 52.0 in May for the ISM manufacturing index compared with 53.3 in April.

The U.S. Commerce Department is due to release April construction spending data, also at 10:00. Economists look for a 0.6% increase in construction spending in April, up from a 0.5% increase in March.

There are no major economic releases from Statistics Canada today.

Toronto stocks closed lower Tuesday, as a drop in the energy sector saw the Canadian senior market give back some of the advances made in the last three sessions.

The S&P/TSX composite index closed down 65.90, or 0.68%, at 9607.30.

Volume on the last day of May was 242,775.00 shares.

Among financial stocks, Scotiabank shares rose by 6¢, or 0.15%, to close at 39.75. Earlier in the day, the company reported its second quarter profits, which rose to $826 million from $784 million, an increase of 5%. The bank also raised its quarterly dividend 2¢ to 34¢ a common share.

After markets closed, Nortel Networks said that it lost US$49 million in the first quarter of this year, although revenue rose 3.8% from a year earlier to US$2.54 billion.

The junior S&P/TSX Venture composite index finished up 4.47, or 0.27%, at 1,650.38.

In New York, all three major indices ended lower.

The Dow Jones industrial average shed 75.07 points, or 0.71%, to 10,467.48.

The tech-heavy Nasdaq composite index fell 7.51 points, or 0.36%, to 2,068.22, while the broader S&P 500 slipped 7.28 points, or 0.61%, to 1,191.50.