Futures and overseas markets are mixed Tuesday as the American-led invasion force in Iraq continues to encounter trouble.

This morning the U.S. National Business Economists released the results of survey of economists that showed war uncertainty to be at the top of their list of concerns.

Meanwhile E*TRADE Group, Inc. has announced the results of its financial index, a quarterly customer survey that tracks U.S. investor sentiment about the economy, the market and personal finances. The survey showed a third consecutive quarter of lowered optimism regarding short-term economic recovery, while the war continues.

This perception hasn’t been aided by the fact that the White House is only now outlining its war spending package. President George W. Bush is looking for a US$74.7 billion spending package to pay the initial costs of the war in Iraq and to bolster Mid-east allies.

The defense portion of the bill would give the administration exceptional discretion. Almost US$60 billion, would be allocated to a “general defense emergency response fund” designed to give Defense Secretary Donald Rumsfeld maximum flexibility. Congress rejected such a move a few months ago. The new authority to fund “indigenous forces” overseas aiding U.S. troops could well provoke a congressional battle.

Meanwhile, Asian markets closed lower overnight. In Tokyo, the Nikkei Stock Average plummeted 196.31 points, or 2.33%, to 8,238.76. In Hong Kong, the Hang Seng Index slipped 46.3 points, or 0.51%, to 9,062.15.

In Europe, markets are mixed in Tuesday trading. London’s FTSE 100 index has fallen 0.13% by midday. Frankfurt’s DAX is up 0.93% and Paris’s CAC 40 has edged up 0.1%.
There’s more good economic news in Canada, today. Statistics Canada is reporting that
the estimated number of Canadians receiving regular Employment Insurance benefits in January edged down 3.3% from December to 529,700. All provinces and territories registered monthly declines. The largest percentage decreases were recorded in Ontario (-7.1%), Yukon (-5.6%), British Columbia (-5.5%) and New Brunswick (-5.4%).