The Canadian Press

Energy stocks could give the Toronto stock market a lift following two days of triple-digit losses as oil prices headed higher while investors took in better-than-expected earnings from Rogers Communications (TSX:RCI.B).

New York indexes pointed to a weak open, ahead of new reports on home prices and consumer confidence.

The Dow Jones industrial futures rose 16 points to 9,857, the Nasdaq futures slipped a point to 1,747 and the S&P futures were unchanged at 1,066.4.

The Canadian dollar continued to head lower, down 0.08 of a cent to US93.64¢ after a stronger U.S. currency pushed the loonie down about one-and-a-third cents on Monday.

The stronger U.S. greenback also sent oil and metal prices lower on Monday, helping send the TSX down 147 points.

On Tuesday, the December crude contract on the New York Mercantile Exchange rose 38¢ to US$79.06 a barrel.

The December bullion contract on the Nymex declined US$2.80 to US$1,040 an ounce while December copper was unchanged at US$3.01 a pound.

Rogers Communications Inc. (TSX:RCI.B) reported that its quarterly net income was $485 million or 79¢ a share, compared to year-earlier earnings of $495 million or 78¢ a share.

After adjustments, the company’s net income totalled $505 million or 82¢ a share, up from 73¢ a year earlier and well above analyst expectations of 54¢ per share.

Revenue at the company’s wireless division was up 7%, fuelled by growth in postpaid subscriptions attributed to the popularity of the Apple iPhone.

Rogers also trades in New York (NYSE:RCI) and its shares were up about 3% in pre-market trading.

Canadian Pacific Railway Ltd. (TSX:CP) (NYSE:CP) said third-quarter net income rose to $195.4 million or $1.16¢ a share, up from $170.7 million or $1.10¢ a share a year ago. However, revenue fell to under $1.1 billion from over $1.3 billion a year ago. Its shares were down about 0.5% in pre-market trading in New York.

And QLT Inc. (TSX:QLT), which has refocused its business on the anti-blindness treatment that was its original product, reported that net income fell to US$8.9 million or 16¢ per share in the three months ended Sept. 30, including discontinued operations, down from US$146.9 million or $1.97 per share a year earlier.

QLT’s revenue fell to US$8.78 million from US$10.87 million in the third quarter of 2008.

The U.S. Conference Board is expected to report consumer confidence rose slightly in October compared with the previous month. Economists polled by Thomson Reuters predict the confidence index will rise to 53.5, from 53.1 in September. A reading above 90 means the economy is on solid footing.

The S&P/Case-Shiller Home Price Index, which measures changes in home prices in 20 of the nation’s largest metropolitan markets, is expected to show house prices continued to decline in August. Economists predict prices fell 11.9% compared with the same month a year ago.

American traders will also get a fresh dose of earnings throughout the day, including United States Street Corp. and Visa Inc.

Meanwhile, Asian stocks retreated Tuesday, following losses on Wall Street amid rising concerns the markets have gotten ahead of economic realities.

In Japan, the benchmark Nikkei 225 stock index lost 1.5% while Hong Kong’s market, which was closed Monday, dropped 1.9%.

China’s Shanghai market led Asia’s declines, tumbling 2.8%.

London’s FTSE 100 index rose 0.58%, Frankfurt’s DAX was up 0.3% while the Paris CAC 40 was ahead 0.56%.

In other corporate news, RioCan Real Estate Investment Trust (TSX:REI.UN), Canada’s largest shopping mall owner, is making its first major U.S. acquisition, with a US$181 million deal to acquire shopping malls in the northeastern and Mid-Atlantic states as well as a minority stake in a U.S. developer.

Indigo Books and Music Inc. (TSX:IDG) said Monday that it earned $2.2 million or 9¢ per share for the quarter ended Sept. 28 compared with a profit of $3.2 million or 13¢ per share a year ago. Revenue for the quarter totalled $207 million, up from $205.3 million.

Kinross Gold Corp. (TSX:K) cut its production guidance for 2009 on Monday due to lower than expected results from its operations in Brazil due to continuing problems at its Paracatu mine. The gold miner said it expected to produce 2.2 million gold equivalent ounces at an average cost of sales per ounce of $435 to $450 for 2009.