North American stocks will likely decline at the open Wednesday, with Google falling on concerns about its sales forecast.
Google shares were down 3% in pre-market trading.
In other market news, NYSE Group will begin trading today after taking on Archipelago Holdings’ listing.
Oil prices fell in early trading as OPEC oil ministers appeared ready to keep output levels intact and data from the United States was expected to show crude inventories growing. Light sweet crude for April delivery lost 31¢ to US$61.27 a barrel in electronic trading on the New York Mercantile Exchange.
The Canadian dollar opened at US86.75¢, down 0.17 of a cent. On Tuesday, the loonie plunged 0.81 of a cent after the Bank of Canada raised its key interest rate by a quarter-point but signalled its rate-hiking trend may be near an end.
Overseas, the UK’s FTSE 100 eased 0.4%.
In Asia, the Nikkei 225 in Tokyo slipped 0.6% ahead of the Bank of Japan’s decision on interest rates.
Toronto stocks finished lower Tuesday, as the broader market reacted to the Bank of Canada’s rate hike announcement and to lower oil and gold prices.
The S&P/TSX composite index fell 66.85, or 0.56%, to 11,816.46.
The S&P/TSX Venture composite index fell 51.36, or 1.94%, to 2,592.15.
In New York, U.S. stocks ended mixed Tuesday as the absorbed both positive and negative corporate earnings reports.
The Dow Jones industrial average rose 22.10 points to 10,980.69, the Nasdaq composite index fell 17.65 points to 2,268.38, while the S&P 500 Index dropped 2.38 points to 1,275.88.
NYSE shares begin trading
Oil prices slip ahead of OPEC announcement, inventory report
- By: IE Staff
- March 8, 2006 March 8, 2006
- 08:30