North American markets look poised to open lower Monday, amid a jump in oil prices, profit warnings from two U.S. blue-chip firms and a reluctance to place big bets ahead of the Federal Reserve board’s decision on interest rates due Tuesday.

Colgate-Palmolive warned that earnings for the second half will disappoint due to marketing spending and raw-material costs. Unilever cut its outlook, blaming bad weather in Europe and tough competition in laundry and hair-care products in Asia.

The U.S. Federal Reserve is expected to announce another quarter-point interest rate hike Tuesday at a meeting of its Open Market Committee.

In Canadian economic news, wholesale sales advanced across most trade sectors in July, Statistics Canada said today. However, total growth was limited to a 0.1% increase because of lower sales in the automotive sector. Excluding the auto sector, sales rose 1.1%, StatsCan said.

In other business news, Rogers Wireless Communications Inc. is offering $1.4 billion for cellphone rival Microcell Telecommunications, known for its Fido brand. Rogers Wireless and parent company Rogers Communications Inc. announced a deal with Microcell early Monday, offering $35 a share. Microcell management had previously dismissed a $1.1 billion bid from Telus Corp. bid as inadequate.

Overnight in Asia, Japanese financial markets were closed for a national holiday.

In Hong Kong, the key Hang Seng Index slipped 3.6 points, or 0.02%, to 13,221.33.

In London, the Canadian dollar was down US0.08¢ at US76.99¢ in morning trading after falling US0.43¢ Friday.

Toronto stocks closed higher Friday getting a boost from gains in energy and mining issues. The S&P/TSX composite finished up 36.51 points, or 0.43%, at 8,529.89. For the week, the benchmark index rose 1.9%.

The junior S&P/TSX Venture composite index was up 6.69 points to 1,532.94.

On Wall Street, stocks ended higher on Friday after Ford Motor Co. raised its earnings forecasts but gains on the Nasdaq were checked after wireless technology provider Qualcomm Inc. said an accounting review may reduce pretax income.

The Dow Jones industrial average was up 39.97 points, or 0.39%, at 10,284.46. The Standard & Poor’s 500 was up 5.05 points, or 0.45%, at 1,128.55. The tech-laced Nasdaq composite index was up 6.01 points, or 0.32%, at 1,910.09.

It was the S&P 500’s highest weekly close since June 27. For the week, the Dow slipped 0.3%.