Stocks are looking at yet another weak opening Tuesday, as traders fret about U.S. consumer confidence scheduled for released today.

Aslo due today is a decision on U.S. interest rates from the Federal Reserve Board. Most Fed watchers are expecting it to stand pat.

Corporate news has been on the soft side today, too. Xerox Corp. is weak after it reported that the U.S. attorney’s office is looking into its accounting practices. And, investment banking firm, Lehman Brothers reported that its earnings fell 37% last quarter.

Crude oil prices are up again today on Iraq attacks fears, and weaker inventories.

In Canada, it was reported that foreign investors sold $3.7 billion worth of Canadian stocks in July, as they reduced their holdings across a wide range of equities. This almost wiped out the $4 billion investment made in June. Foreign investors made another small investment ($0.2 billion) in Canadian money market paper in July. Meanwhile, Canadian investors continued to add to their holdings of foreign securities in July, with $0.8 billion added in the month, split between foreign stocks and bonds.

European stocks are down sharply once again today, with growth fears hurting stocks. Banks are taking it hardest. The FTSE is down 110 points to 3,630. The CAC 40 is down 93 points to 2,702. The DAX has also dropped 93 points to 2,821.

Overnight in Asia, stocks were weaker, too. The Nikkei dropped 159 points to 9,322. The Hang Seng lost 117 points to 9,198.

In M&A news, Ivanhoe Mines has agreed to acquire an additional 8.6 million shares in Pacific Minerals Inc., a Canadian company that is exploring precious and base metals projects in China. Ivanhoe will own 38.4% of the outstanding shares of Pacific Minerals, and 42.2% on a fully diluted basis.

In other news, Bombardier Transportation announced new orders for a total of approximately $234 million, which entail the supply of 10 two-car Regina trainsets in Sweden, the modernization of Eurotunnel locomotives and overhauling services for Shanghai metro cars.

Finally, Emco Ltd. announced that diluted earnings per share for the third quarter are expected to be in the range of 75¢ to 85¢ per share versus 50¢ per share last year. This increase is a result of continuing positive trends in margin enhancement, expense management and continuing strong demand for both its plumbing and waterworks products as well as its manufactured building products.