Toronto stocks may rise at Tuesday’s opening bell, as investors track oil prices and review this morning’s economic news.

Crude-oil futures slipped under US$46 a barrel Tuesday, with traders anticipating a further pullback, as the resumption of Iraq’s long-stalled exports from its northern oil fields eased supply concerns.

Here at home, despite a rise in gasoline prices last month, the annual rate of inflation dipped to 2.3% in July from 2.5% in June, Statistics Canada said today.

However, the core rate – which excludes most volatile food and energy prices -rose to 1.9% from 1.7% in June. The increase in core inflation was in line with analyst forecasts.

South of the border, a report on U.S existing homes sales for July is due at 10:00 ET.

Bank earnings season kicks off today with Bank of Montreal reporting its third-quarter results. This morning BMO said its has raised its quarterly dividend by 10%. The quarterly dividend was increased 4¢ to 44¢ from 40¢.

Yesterday, CIBC said it has sold off all of its proven claims against Air Canada to a third party for cash. The bank said it will recognize a $52 million pre-tax gain in the fourth quarter.

CIBC also said it has obtained rights to acquire between 3.4 million and 3.8 million voting shares of ACE at an exercise price of $20 per share.

CIBC shares slipped 10¢ on Monday to close at $64.85.

The Toronto Stock Exchange said on Tuesday it will suspend Air Canada’s shares for failing to meet listing requirements, in a widely expected move that comes after the airline was cleared to emerge from bankruptcy protection.

The TSX said the suspension will take effect after markets close on Wednesday.

On Monday, a Canadian court approved the airline’s plan of arrangement with its creditors which allows the airline to come out of bankruptcy protection next month.

Asian stock markets closed higher overnight. Tokyo’s Nikkei rose 24.36 points, or 0.22% , to 10,985.33.

In Hong Kong, the key Hang Seng Index rose 214.72 points, or 1.72%, to 12,646.49.

Toronto stocks closed slightly lower Monday after trading in a narrow range during the session. The S&P/TSX composite index slipped 20.15 points to finish at 8,315.47, with 176 million shares changing hands.

The junior S&P/TSX Venture composite index slipped 8.47 points to close at 1,515.38.

On Wall Street, stocks closed mostly lower Monday as a cut in Wal-Mart’s sales forecast for August overshadowed declines in oil prices and spurred concern about consumer spending.

The Dow Jones industrial average was down 37.09 points, or 0.4% at 10,073.05, just off its intraday low of 1,067.97. The tech-heavy Nasdaq composite index was virtually unchanged, edging up 0.68 points to 1,838.70. The S&P 500 dipped 2.67 points, or 0.2%, to 1,095.68.