Stocks are expected to slide at Monday’s, as last week’s expectation of a cut to U.S. interest rates tomorrow is dissipating. Traders are instead focusing on whether the Federal Reserve will shift its bias toward further easing. But the ebbing of talk of an actual cut has both the U.S. dollar and stocks down.

The corporate news isn’t great either, with word that U.S. Airways Group Inc. has filed for bankruptcy protection.

In Canada, the New Housing Price Index rose 0.2% in June from May. Compared with June 2001, this index of contractors’ selling prices increased 4.1%.

In Europe, stocks are down already today, led by U.S. names. Also, oil giant BP plc is down after J.P. Morgan Chase issued a negative research comment on oil demand. German utility RWE AG reported that its first-half profit rose 11%. The FTSE is down 88 points to 4,235. The CAC 40 has dropped 84 points to 3,364. The DAX is down 112 points to 3,649.

Overnight in Asia, stocks were weaker, too. The Nikkei closed down 252 points to 9,748. The Hang Seng lost 54 points to 9,960.

In M&A news, Cathay Financial Holding Co. is buying United World Chinese Commercial Bank for US$3.38 billion in stock.

Brocker Technology Group Ltd. has entered into a joint venture to acquire 50.1% of Telikom PNG Limited, Papua New Guinea’s telecommunications monopoly, for approximately $7.3 million.