North American stocks are likely to open little changed Tuesday following a long holiday weekend in the United States. U.S. stock markets were closed on Monday for Presidents Day.

In today’s economic news, Canada’s annual inflation rate slipped to 1.2% in January, from 1.6% in December, Statistics Canada said. Lower gasoline prices and cheaper natural gas helped offset higher housing costs.

The Canadian dollar opened at US85.84¢, down 0.04 of a cent.

In M&A news, Sirius Satellite Radio agreed to buy XM Satellite Radio Holdings in a stock swap deal that would value the combined company at around US$11.4 billion.

In earnings news, retail behemoth Wal-Mart said net income rose 9.8% in its fiscal fourth quarter, driven by strong international sales that were helped by three acquisitions. The world’s biggest retailer reported an 11% gain in sales to US$99.08 billion, missing Wall Street’s estimate of US$99.59 billion in sales.

Home Depot reported a 28% decline in fourth-quarter net profit, as results were weighed down by continued weakness in the housing market.

UK bank Barclays reported a 33% jump in 2006 net profit to 4.57 billion pounds (US$8.91 billion), or 69.8 pence a share.

Crude-oil prices tumbled $1.21 to US$58.18 a barrel.

Overseas the UK’s FTSE 100 index slipped 0.1% at 6,437.70.

Uncertainty about whether the Bank of Japan would raise interest rates Wednesday after its two-day meeting prompted many investors to hold back in Tokyo.

The Nikkei 225 index dipped 0.97 of a point, or 0.01%, closing at 17,939.12 on the Tokyo Stock Exchange.

Financial markets were closed in mainland China, Hong Kong, Taiwan, Singapore and Malaysia for the Lunar New Year. Trading will start again Wednesday in Hong Kong.

Toronto stocks moved lower Monday, as falling energy stocks moved the broader market lower in a relatively quiet trading day.

The S&P/TSX composite index fell 20.40 points, or 0.15%, to 13,291.55.

Six of the 10 TSX main groups finished higher, but the energy index fell 0.80%.

The S&P/TSX Venture composite index gained 32.23 points, or 1.04%, to 3,122.93.