North American markets closed mixed Wednesday as a series of earnings warnings lowered investor optimism about second-quarter profits. The S&P/TSX composite index shed 17.53 points to close at 7,103.49.

Both Potash Corp. and Stelco said this week that second-quarter results would be much lower than originally anticipated.

Shares of Stelco dropped 68¢, or 34%, to close at $1.32, while Potash fell $1.88, or 2%, to $83.72.

The TSX materials sector, which is home to the steelmakers, dropped 2.7%, while the energy sector fell 0.4%.

The junior TSX Venture Exchange edged 0.56 of a point higher to 1,116.10.

In New York, markets closed mixed as blue chips stocks stumbled lower on profit warnings from Eastman Kodak.

The tech-heavy Nasdaq composite index closed higher after Oracle sweetened its bid for PeopleSoft.

The Dow Jones industrial average fell 29.22 points to 9,293.80, and the broader S&P 500 sagged 1.57 points to 1,010.09. The Nasdaq rose 8.73 points to 1,677.17.

he Canadian dollar rose 0.18 of a cent to US74.87¢ despite a stronger U.S. currency and more indications the Bank of Canada won’t raise interest rates anytime soon.

Bank governor David Dodge said in a Halifax speech that economic weakness has calmed inflation. Higher prices had prompted the bank to hike rates earlier this year.