Canada's main stock index looked set to open lower after data showed euro-zone contracted for the sixth straight quarter, marking its longest recession since 1995.
The S&P/TSX composite index acquired 47.50 points to wind up Tuesday at 12,577.05
The Canadian dollar eased back 0.26 cents to 97.97 cents U.S. early Wednesday.
First Majestic Silver cut its 2013 capital expenditure by 16% due to a decline in silver prices and warned it could make further cuts later in the year.
Canada's Competition Bureau has not raised any concerns about Agrium Inc.’s proposed purchase of 232 farm supply stores from Glencore Xstrata Plc, even though its review has taken months longer than expected
In the economic docket today, national home sales declined 2.1% in February, according to statistics released today by the Canadian Real Estate Association, and 15.8% below levels for February 2012.
Statistics Canada reported this morning that manufacturing sales dropped 3% to $49.5 billion in March, the third decline in four months.
ON BAYSTREET
The TSX Venture Exchange dropped 7.33 points Tuesday to 949.37
ON WALLSTREET
U.S. futures were little changed after the open.
Futures for the Dow Industrials fell nine points to 15,166. Futures for the S&P 500 eased 1.4 points to 1,646.60, and futures for the NASDAQ dropped one point to 2,994.25.
With the Dow and S&P 500 coming off record highs, investors will look Wednesday to a handful of corporate and economic reports.
Earnings season is nearly over, but a few firms were still trickling in. Shares of John Deere tumbled after the heavy equipment manufacturer issued disappointing sales guidance.
Macy's stock edged up after the retailer reported a gain in quarterly profit, revenue and same-store sales.
Cisco is up after the bell.
Tesla Motors edged lower Wednesday, one day after reaching a record high.
In economic news, the U.S. Bureau of Labor Statistics released data on April producer prices at 8:30 a.m. ET. Economists expect prices to decline 0.5%.
Also, the Federal Reserve will publish its monthly report on industrial production at 9:15 a.m. ET.
In Japan, the Nikkei 225 topped 15,000 for the first time in five years as the yen continues to weaken. Japan has been in the spotlight in recent months as the country pushes forth with its ambitious economic reforms, known as Abenomics, after the current prime minister
Meanwhile, in Europe, France slipped back into recession after a 0.2% decline in GDP for the first quarter of 2013. Germany's economy expanded by 0.1% over the same period.
Oil prices gave back $1.01 to $93.20 U.S. a barrel
Gold prices fell $15.50 to $1,409 U.S.
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