U.S. stock futures rose Wednesday, on reports that tobacco giant Altria Group is considering a spinoff of its international arm.

North American stocks tumbled in the last hours of the session Tuesday, as investors weighed what the U.S. Federal Reserve minutes may signal about the future direction of interest rates.

There are no major economic releases from Statistics Canada today.

The Canadian dollar opened at US94.43¢, up 0.54 of a cent from Tuesday’s close.

In tearnings news, Bombardier swung to a quarterly net loss of US$71 million, after a year-ago profit of $58 million, on an expected $162 million writedown on its investment in the Metronet Rail upgrade of the London subway system.

U.S. home-furnishings retailer Williams-Sonoma’s fiscal second-quarter net income fell 27% despite strong sales. The company raised its fiscal year outlook.

In M&A news, a proposal by autoparts giant Magna International to sell a 42% stake in the company to a Russian billionaire for US$1.54 billion was approved at a special meeting of shareholders Tuesday without any objection.

Crude-oil futures rose 38¢ to US$72.11 a barrel ahead of weekly U.S. energy inventory data.

Overseas, the Nikkei 225 dropped 1.7% in Tokyo, while the FTSE 100, after early losses, rose 0.3%.

On Tuesday, the Toronto stock market fell for a second straight session, depressed by weakness in the energy, materials and financial sectors.

The S&P/TSX composite index dropped 222.56 points, or 1.65%, to close at 13,264.87.

All 10 of the TSX main groups ended lower.

Financial stocks slipped as investors digested an earnings report from Bank of Montreal that featured a 7% drop in third-quarter profit amid commodities trading losses.

BMO shares fell $1.52, or 2.3%, to $65.65.

Bank of Nova Scotia reported third-quarter earnings rose 10%, which beat expectations. Its shares declined 62¢, or 1.2%, to $50.54.

The junior S&P/TSX Venture composite index fell 69.75 points, or 2.65%, to 2,562.93.

In New York, the Dow Jones industrial average fell 280.28 points, or 2.10%, to 13,041.85. The S&P 500 dropped 34.43 points, or 2.35%, to 1,432.36. The Nasdaq composite index fell 60.61 points, or 2.37%, to 2,500.64.