North American stocks may tumble at Thursday’s open after French bank BNP Paribas suspended three funds, blaming a lack of liquidity.

BNP Paribas said it has suspended three funds with exposure to the U.S. credit markets as it has become impossible to accurately value them after “the complete evaporation of liquidity.”

The suspension could renew worries over credit that set equity markets tumbling last week.

In today’s economic news, the increase in new housing prices continued to slow, with contractors’ selling prices increasing 7.8% from June 2006, Statistics Canada said today. This is compared with the 8.6% year-over-year increase in May.

On a monthly basis, prices in June were up 0.7% from May.

The Canadian dollar opened at US94.71¢, down 0.65 of a cent.

South of the border, U.S. retailers weaker than expected same-store sale amid softness at apparel shops. Wal-Mart’s 1.9% rise on strong grocery sales beat forecasts.

In today’s earnings news, Magna International said its second-quarter profit rose to US$262 million, from a year-earlier US$193 million, as sales increased 6% to US$6.7 billion

Oil prices dipped slightly, with the September-dated light crude contract down 30¢ at US$71.85 a barrel.

Overseas, the UK’s FTSE 100 was down 1.11% in early action, Germany’s DAX index fell 1.4% and France’s CAC-40 fell 1.67%. Oil prices headed lower.

Most Asian markets rose, cheered in part by Wall Street’s rise Wednesday.

In Tokyo, the benchmark Nikkei 225 index rose 141.32 points, or 0.83%, to finish at 17,170.60 points on the Tokyo Stock Exchange.

Hong Kong’s blue-chip Hang Seeing Index edged down on profit taking following the index’s biggest one-day gain in more than six years.

The Toronto stock market surged Wednesday posting a nearly 200-point gain, as financials and the resource sectors powered the broader market forward.

The S&P/TSX composite index shot ahead 197.62, or 1.46%, to 13,758.19.

Eight of the 10 TSX main sub-groups finished ahead.

Financials gained 2.36% on strong earnings results from Manulife Financial.

The insurer announced a second-quarter profit of $1.1 billion, up 14.7% from a year-ago earnings of $959 million. Manulife shares gained $1.01, or 2.54%, to $40.75.

The S&P TSX Venture composite index moved ahead 27.40 points, or 0.91%, to 3,030.87.

In New York, markets posted big gains, after yet another volatile trading session, as investors cheered earnings news by piling back into equities.

The Dow Jones industrial average shot ahead 153.56 points, or 1.14%, to 13,657.86, the Nasdaq composite index gained 51.38, or 2.01%, to 2,612.98, and the S&P 500 fired ahead 20.78, or 1.41%, to 1,497.49.