Global indicators were mixed for North American stock markets early Wednesday as Wall Street prepared to end a four-day holiday that included New Year’s Day and a day of mourning for former U.S. president Gerald Ford.

Wall Street futures suggested a strong start for regular trading and crude oil prices dropped.

There are no major economic releases from Statistics Canada today.

South of the border, investors are awaiting the Institute of Supply Management’s manufacturing survey for December and construction spending data due at 10:00 ET. as well as monthly auto sales results throughout the day. Minutes from the last Federal Reserve interest-rate meeting will be released at 14:00 ET.

Analysts forecast that December auto sales will slide as much as 6%.

In business news, Wal-Mart will be a focus of trading after the giant retailer said December same-store sales were expected to be up 1.6% over year-earlier levels, well above the company’s previous estimate of a 1% gain.

The board of Home Depot and Bob Nardelli announced that they have mutually agreed that Nardelli will leave his position as chairman, president and CEO. Frank Blake, the retailer’s current vice chairman of the board and executive vice president, succeeds Nardelli, effective immediately.

Overseas, key European indexes were mixed.

Asian markets were mixed as Thai stocks tumbled 3% in the wake of a string of bombings over the New Year’s holiday weekend, but Hong Kong closed at a new record. The blue-chip Hang Seng Index rose 103.21 points, or 0.5%, to 20,413.39.

Financial markets in Japan were closed for holidays.

In Hong Kong, shares rose to a record high for a second straight session.


Toronto stocks moved modestly higher Tuesday on lighter-than-normal trading, as the market reopened after the New Year’s Day holiday.

The S&P/TSX composite index gained 15.27, or 0.12%, to 12,923.66, on volume of just above 147.9 million shares.

Eight of the 10 TSX main sub-groups were up, with materials lifting 0.65%.

The gold sub-index gained 0.80%. The gold futures contract gained $4.40 to US$642.40 an ounce in electronic trading.

The energy index fell 0.33%. Light sweet crude for February delivery lost 22¢ close at US$60.83 a barrel in electronic trading.

The S&P/TSX Venture Exchange index moved up 20.66 points, or 0.69%, to 3,007.74.