Global indicators were mostly positive for North American stock markets early Tuesday as tech bellwether Texas Instruments released a strong sales report after the bell Monday.

TI reported strong wireless chip sales, which boosted its fourth-quarter net income by 34%.

The Canadian dollar traded lower early Tuesday after the Conservative party achieved a minority victory in the federal election.

In early trading, the loonie slipped to US86.88¢, down 0.13 of a cent from Monday’s close, which was the second-highest level in almost 15 years.

Aside from a minority Conservative government, market watchers are also weighing the economic impact of a possible interest rate hike. The Bank of Canada is widely expected to boost key interest rates by 25 basis points when it announces its decision at 9:00 ET.

In today’s business news, DaimlerChrysler AG said it plans to cut about 6,000 jobs, or 20% of its general and administrative staff, over the next three years in a drive to cut costs by more than US$1 billion a year.

, Ford Motor Co. unveiled plans to close 14 factories in North America and cut between 25,000 and 30,000 jobs.

In Canada, Ford will cut the St. Thomas, Ont., assembly plant to one shift, eliminating 1,200 jobs. As previously announced, Ford’s Windsor, Ont., casting plant will be closed.

Around 30% of the job cuts will be at the management level and will affect operations world-wide, the company said.

On Monday,

In M&A news, Dofasco Inc.’s white knight, ThyssenKrupp AG of Germany, has dropped out of the bidding war for the steelmaker.

ThyssenKrupp announced after financial markets closed Monday that its executive board had decided not to raise its offer beyond $68 per share.

Bidding rival Arcelor SA of Luxembourg boosted its offer for Dofasco last week to $71 a share, making the bid worth $5.5 billion.

Late Monday, Dofasco terminated its agreement to support ThyssenKrupp’s bid, meaning a $215-million break-up fee is now payable by Dofasco to the German company when its offer officially expires Jan. 26.

Overnight in Asia, equity markets rebounded. Tokyo’s Nikkei 225 index soared 288.24 points, or 1.9%, to close at 15,648.89. On Monday, the Nikkei plunged 336.04 points, or 2.1%.

In Hong Kong, the Hang Seng Index rose 65.8 points, or 0.4%, to 15,530.57.

Toronto stocks rallied Monday, pushed forward by resource stocks and amid expectations of a Conservative victory in the federal election.

The S&P/TSX composite index rose 127.70, or 1.10%, to 11,733.37. That’s a new record close for the benchmark index.

The S&P/TSX Venture Exchange index finished up 36.43, or 1.50%, to 2,459.55.

In New York, the markets bounced back somewhat from Friday’s session, where the Dow Jones industrial average fell 1.96%, but mixed corporate earnings news in the financials sector kept gains modest.

The Dow finished ahead 21.38 points to 10,688.77, the Nasdaq composite index nudged ahead 0.77 of a point to 2,248.47, while the S&P 500 was up 2.33 to 1,263.82.