Canada's main stock index looked set to open lower on Tuesday, as lingering concern about a possible U.S. fiscal crisis and delays to an installment of Greek aid dampened investors sentiment.
The S&P/TSX composite finished Monday off 5.34 points at 12,191.46. Futures dropped 0.4%
The Canadian dollar skidded 0.24 cents to 99.77 cents U.S. Tuesday morning.
Quebecor Inc reported a 29% fall in third-quarter profit as it took a goodwill impairment charge.
Sears Canada Inc reported a smaller quarterly loss on Tuesday even as its sales slid.
No major Canadian economic data was scheduled for release Tuesday.
ON BAYSTREET
The TSX Venture Exchange remained positive, however, 4.54 points to 1,305.46
ON WALLSTREET
U.S. stock futures were lower Tuesday as investors continue to fret over whether lawmakers will cut a deal to avoid the so-called "fiscal cliff".
The Dow Jones Industrials futures dropped 68 points, or 0.5%, to 12,712 while S&P 500 futures fell 8.7 points, or 0.6%, to 1,369.50, and futures for the tech-rich Nasdaq gave back 18 points, or 0.7%, to 2,563.
Lawmakers are trying to strike a deal that prevents the onset of sharp spending cuts and tax increases in January. President Obama plans to meet with union leaders on Tuesday, a number of business leaders on Wednesday and then Congressional leaders on Friday.
At 2 p.m. ET, the Treasury Budget is expected to show a deficit of $113 billion U.S. for October, according to a survey of analysts.
Windows chief Steven Sinofsky, heir apparent to Microsoft CEO Steve Ballmer, left the company late Monday. Sinofsky had been at Microsoft since 1989, trusted with overseeing many of the company's core products -- including Office and the recent Windows 8 debut. Microsoft shares fell 2.7% in pre-market trading.
Meanwhile in Europe, finance ministers have agreed to give Greece two more years to meet fiscal targets attached to a second sovereign bailout, but will not release the next installment of rescue funding for at least another week.
European stocks fell in morning trading. Britain's FTSE 100 lost 0.5%, the DAX in Germany shed 0.6% and France's CAC 40 fell 0.6%.
Asian stocks ended lower, as fiscal issues in Europe and the U.S. continue to drag on markets. The Shanghai Composite dropped 1.5%, the Hang Seng in Hong Kong tumbled 1.1%, and Japan's Nikkei shed 0.2%.
Oil for December delivery fell 44 cents to $85.14 U.S. a barrel.
Gold futures for December delivery dropped $3.90 to $1,727 U.S. an ounce.
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