U.S. stock futures climbed Tuesday ahead of the latest reports on consumer confidence and and house prices.

Here at home, Canadian retailers began 2008 on a strong note, as sales increased 1.5% in January to an estimated $35.8 billion, Statistics Canada reported.

The Canadian dollar opened Tuesday at US98.45¢, up 0.21 cent from Monday.

In earnings news, Bank of China posted a 31% rise in 2007 net profit, despite a US$1.3 billion write-off for U.S. subprime-related investments.

After the market closes, the Ontario government will table the 2008 provincial budget.

Crude oil was at US$101.01 per barrel, up 15¢ from Monday’s close after dipping as low as US$99.66 overnight, and gold was up US$16.90 at US$935.60 an ounce.

Overseas, the FTSE 100 was up 3.2% near midday in London, while Germany’s DAX index rose 2.9% and the Paris CAC-40 rose 3.1%.

Japan’s Nikkei 225 index closed up 2.2% at 12,745.20.

Hong Kong’s Hang Seng index jumped 6.4% to 22,464.52.

Surging financial issues helped pull the Toronto Stock Exchange’s main index strongly higher on Monday.

The S&P/TSX composite index closed up 244.08 points, or 1.91%, at 13,019.72 with all of its 10 main sectors higher.

A sweetened bid for U.S. investment bank Bear Stearns Cos. from J.P. Morgan Chase & Co. helped boost sentiment for the TSX financial sector, which climbed 3%.

J.P. Morgan Chase lifted its offer for Bear Stearns to US$10 a share from US$2, helping alleviate concerns that other investment banking shares could tumble.

The junior S&P/TSX Venture composite index gained 19.42 points, or 0.79%, to finish at 2,481.75.

In New York, U.S. stocks rallied after the raised buyout offer for Bear Stearns and data that fueled hopes for a turnaround in the U.S. housing market.

The Dow Jones industrial average climbed 187.32 points, or 1.52%, to finish at 12,548.64. The S&P 500 ended up 20.37 points, or 1.53%, at 1,349.88.

The tech-heavy Nasdaq composite index soared 68.64 points, or 3.04%, to close at 2,326.75.