Stock index futures pointed to a weak open on Wall Street Wednesday, while Canadian investors woke up to news the country had elected its third consecutive minority government, with Prime Minister Stephen Harper’s Conservatives returning to Ottawa with a strengthened mandate.

The Conservatives were elected or leading in 143 ridings, up from 124 in the last Parliament.

The Liberals fell to 76 from 103, the NDP gained eight to 37, and the Bloc Quebecois lost one to 50.

The Canadian dollar opened at US86.43¢, up 0.34 of a cent from Tuesday.

Light sweet crude was down US$2.18 at US$76.45 on the New York Mercantile Exchange, after going as low as US$76.05 overnight.

In Canadian market news, EnCana Corp. today announced it has indefinitely delayed its plan to split into two independent energy companies, citing “the uncertainty and volatility in the global financial markets.”

In today’s earnings news, J.P. Morgan’s net income fell 84% amid US$3.6 billion in writedowns and US$640 million in losses from its acquisition of Washington Mutual.

Coca-Cola reported a higher-than-expected 14% increase in third-quarter net income as global volumes rose 5%.

Results are also expected from Wells Fargo & Co., Abbott Laboratories, and after the close, eBay.

After markets closed Tuesday, Intel Corp. reported a third-quarter net income of US$2 billion, or 35¢ a share, compared with net profit of US$1.8 billion, or 30¢ a share, for the year-earlier period. Revenue was US$10.22 billion, up 1% from US$10.1 billion last year.

On today’s economic calendar, there’s a flurry of U.S. data including retail sales data for September, wholesale prices for September, a New York-area manufacturing poll for October, business inventories for August and the Fed’s Beige Book of economic anecdotes.

In addition, Federal Reserve Chairman Ben Bernanke will be speaking on the economic outlook and financial markets in a speech at 12:15 p.m. ET.

In Canadian economic news, Statistics Canada reported that investment in non-residential building construction amounted to $10.8 billion in the third quarter of 2008, up 1.5% from the second quarter, mainly the result of price increases in institutional and commercial building construction.

Overseas, Hong Kong’s Hang Seng Index lost nearly 5% after rising more than 13% in the previous two days.

Japan’s Nikkei 225 index gained 1.1% at 9,547.47 after soaring 14% in the previous session.

In Europe, the FTSE 100 fell 3.2% early in the afternoon in London, while Germany’s DAX lost 2.6% and France’s CAC-40 was down 2.5%.

On Tuesday, the Toronto stock market surged almost 900 points after central banks moved to shore up American banks.

The S&P/TSX composite index closed up 890.50 points, or 9.82%, at 9,955.66, after plunging 16% last week.

It was the best single-day showing in its history, beating Sept. 9, 2008, when the index gained 848.42 points, or 7.03%, according to the TSX.

The junior S&P/TSX Venture composite index shot up 78.89 points, or 8.08%, to end at 1,054.70.

In New York, the Dow Jones industrial average was down 76.62 points, or 0.82%, at 9,310.99. The S&P 500 was down 5.34 points, or 0.53%, at 998.01. The Nasdaq composite index fell 65.24 points, or 3.54%, at 1,779.01.

IE