Energy and tech stocks drove Canadian markets higher Tuesday morning, while U.S. markets were in neutral waiting for the announcement by the U.S. Federal Reserve about interest rates.

At midday, the S&P/TSX was up 51.28 points or 0.57% to 9084.05, adding to Monday’s 67-point gain. The TSX Venture exchange slipped 3.03 points or 0.18% to 1719.94. The Dow Jones industrials was virtually unchanged, off 0.12 of a point to 10638.2, after jumping 95 points Monday. The Nasdaq was 5.33 or 0.25% to 2153.83 and the S&P 500 was up 0.69 of a point or 0.06% to 1199.37.

The Canadian dollar was down 0.62 of a cent to US80.80¢ after Statistics Canada reported declining exports forced Canada’s merchandise trade surplus to its lowest level in a year in October, with the surplus down $600 million to $4.4 billion.

Meanwhile, the price of light, sweet crude on the Nymex moved up 45¢ to US$41.46 a barrel. Crude prices have started moving higher again on concerns over heating oil supplies this winter, continued disruption of production in places like Iraq and expected demand from energy-hungry China.

The TSX energy sector responded with a jump of 1.15%. Tech stocks were ahead by 2.73%, spurred by Monday’s long-awaited takeover of PeopleSoft Inc. by Oracle Corp. Gold shares slipped 1.46% as the price of bullion fell $2.25 to US$435.55 in London.

Among most active stocks, Bombardier was once again the leader, with more than 41 million shares trading hands, almost half of Monday’s total. Bombardier was up 6.16% to $2.24.

Sun Life Financial was also active, with the stock adding 0.98% to $40.24 on volume of more than three million shares. Financial stocks as a group were up 0.03%.

In New York, U.S. stocks traded modestly higher, buoyed by fresh merger-related activity and gains for Intel following an upbeat outlook for worldwide demand of personal computers. Tuesday’s market action comes as investors await the Federal Reserve’s decision on interest rates due out later today.

The Fed’s Open Market Committee is widely expected to lift its key Fed Funds rate by a quarter of one percentage point to 2.25%.

The consensus on the accompanying statement is that the Fed will reiterate its view that rates can continue to rise at a “measured” pace. The decision is due to be announced around 2.15 p.m. ET.

Overseas, Asian stock markets closed mostly higher, boosted largely by Monday’s gains on Wall Street.

Tokyo’s Nikkei Stock Average of 225 issues rose 126.33 points or 1.17% to 10915.58. The Nikkei advanced as solid growth for U.S. retail sales in November raised hopes for brisk consumer spending in Japan’s key export market.

Hong Kong stocks also ended higher, snapping a five-session losing streak. The blue-chip Hang Seng Index rose 157.36 points or 1.13% to 14043.52.

London’s FTSE 100 index moved 15 points lower to 4721.8.

Frankfurt’s DAX 30 was up 15.79 points to 4235.03 and the Paris CAC 40 edged up 10 points to 3816.04.