North American stocks are likely to open little changed Wednesday, a day after rallying.

The gold and energy sectors sent Toronto stocks to a new record high close on Tuesday, the first day of trading in 2006.

The S&P/TSX composite index finished up 169.32 points, or 1.5%, at 11,441.58.

U.S. stocks rebounded after minutes from the Federal Reserve’s December meeting suggested that the end of the central bank’s 18-month campaign to raise interest rates will happen sooner rather than later.

In today’s economic news, Statistics Canada said prices for manufactured goods at the factory gate were down in November, as gasoline and fuel oil prices declined for a second month.

Meanwhile, raw materials prices were down for a third consecutive month in November, due to lower prices for crude oil.

The Canadian dollar opened at US86.67¢, up 0.13 of a cent.

South of the border, a report on November factory orders is slated for release at 10 a.m. Eastern. Data on weekly chain store sales and mortgage applications also are due to be released.

General Motors, Ford Motor and DaimlerChrysler will be in the spotlight as auto makers report December sales results throughout the day.

Crude-oil prices fell 68¢ to US$62.46 a barrel in early trading Wednesday.



Overseas, the Nikkei 225 climbed 1.6% in a half-session, while European markets were stronger as well.

On Tuesday, the S&P/TSX composite index finished up 169.32 points, or 1.5%, at 11,441.58, a new record. The market’s previous high close was 11,388.82 set on Sept. 4, 2000.


Germany firm ThyssenKrupp AG increased its takeover offer Dofasco Inc. to $4.9 billion, or $63 a share, matching a bid by Arcelor SA of Luxembourg. Dofasco fell 81¢, or 1.25%, to $64.17.

The S&P/TSX Venture Exchange index finished up 37.92 points, or 1.70%, to 2,274.47.

In New York, markets climbed high on energy stocks and indications the Federal Reserve might soon be done raising its key funds rate.

The Dow Jones industrial average gained 129.91 points, or 1.2%, to close at 10,847.41. The Nasdaq composite index rose 38.42 points, or 1.7%, to 2,243.74. The S&P 500 rose 20.51 points to 1,268.80.