Equity markets should be quiet Tuesday while investors wait for the U.S. Federal Reserve to weigh in on the American economy later this afternoon.

No one expects the Fed to raise rates Tuesday. That would kill the mortgage and home-buying markets – one of the principal pillars that’s been holding the economy up. But marketwatchers are interested in anything that might give stocks a boost, too.

Futures investors are slightly higher at this point, so equity markets will open modestly positive. Meanwhile, in Europe, London’s FTSE 100 is up 0.36% at midday. Frankfurt’s DAX is up 1.29% and Paris’s CAC 40 has gained 0.51%.

Overnight in Tokyo, prices rose for the third straight session. The Nikkei Stock Average ended its Tuesday trading up 77.01 points, or 0.81%., at 9,564.81. In Hong Kong, the key Hang Seng Index rose 90.63 points, or 0.9%, to 10,184.17.

In business news, reports are due out today from Angiotech Pharma, Pan American Silver and Microcell.

On Monday, Toronto stocks closed higher, lifted by gains in information technology shares. The S&P/TSX composite index rose 65.85 points to close at 7,317.81.

Technology stocks got a boost after software giant Oracle was upgraded by Merrill Lynch.

In New York, the tech heavy Nasdaq composite index gained 17.48 points to 1,661.51. The blue-chip Dow Jones industrial average added 26.26 points to 9,217.35, while the broader S&P 500 added three points rising to 980.59.

The Canadian dollar climbed Monday, boosted by the strong housing report. The loonie closed at US72.44¢, up from US71.86¢ at Friday’s session close.