Wall Street stock futures pointed to a weaker start for Thursday, with investors expected to take profits run up from previous session’s rally.

In economic news, the U.S. House of Representatives passed an US$819 billion stimulus package Wednesday night. A parallel Senate measure, which is expected to come to a vote next week, is now valued at nearly US$900 billion.

Here at home, the Canadian dollar opened at US82.34¢, up 0.05 of a cent from Wednesday’s close.

In this morning’s earnings news, Petro-Canada said that its annual 2008 profit rose 15% from year-earlier levels despite reporting a $691 million loss in the fourth quarter.

The Q4 loss, which amounted to $1.43 per share, reversed profits of $522 million or $1.08 per share recorded in the corresponding quarter of 2007.

Ford posted a US$5.9 billion fourth-quarter loss and said it doesn’t plan to seek government assistance.

Sony Corp. said its net profit plunged 95% in the October-December quarter from a year earlier, as poor sales of TVs, digital cameras and mobile phones sent its core electronics division into the red.

After markets closed on Wednesday, Starbucks reported a profit that fell short of expectations. The company said it plans to close 300 stores and lay off nearly 7,000 workers.

Shell posted a US$2.8 billion loss.

In commodities news, crude futures were down 92¢ at US$41.24, while gold was US$12.80 weaker at US$875.40.

Overseas, London’s FTSE was down 2.2% midday.

In Asia, Hong Kong shares rose 5.5% in the first trading day after the extended Lunar New Year break.

Strength in financial stocks and energy companies carried the Toronto Stock Exchange higher with triple digit gains on Wednesday.

The S&P/TSX composite index jumped 146.6 points, or 1.7%, to close at 8,906.23.

The financials group led the way with gains of 4%.

The S&P/TSX Venture composite rose 2.05 points, or 0.2%, to finish at 869.92.

In New York, hopes for additional stimulus and a federal financial rescue plan had bank stocks leading a stock market rally.

The Dow Jones industrial average added 200.72 points, or 2.5%, to 8,375.45.

The S&P 500 index rose 28.38 points, or 3.4%, to 874.09, and the Nasdaq composite gained 53.44 points, or 3.6%, to 1,558.34.

IE