Canada's main stock index looked to open higher on Wednesday after a long Christmas holiday weekend, though lower commodity prices might weigh on the resource heavy index, limiting any overall gains.
Among stocks to watch on what should be a light trading day, Bombardier announced it has been awarded a 188-million-pound ($294.57-million U.S.) contract to supply 130 train carriages to U.K. rail operator Southern.
Athabasca Oil Sands Corp. said it received regulatory approval for its 150,000-barrel-per-day MacKay River project in Alberta and is on track to start production from 2014.
The Canadian dollar made a bit of headway, up 0.49 cents to 98.65 U.S. cents
U.S. stocks were headed for a slightly higher open Wednesday as investors wind down the year.
The Dow Jones industrial average futures inched up 0.2% to 12,241, S&P 500 futures picked up 0.3% to 1,263.40, and Nasdaq futures were up about 0.2% to 2,289.50. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.
Trading volumes are expected to be well below average, with many market participants taking time off this week for the holidays. And with no major economic reports due Wednesday, traders aren't expecting much volatility.
U.S. stocks ended a listless session little changed Tuesday as investors weighed reports on consumer confidence and home prices.
U.S. stocks have been supported recently by signs of improvement in the economy, including declines in weekly claims for unemployment benefits and an uptick in new home construction.
But investors say the market remains vulnerable as the debt crisis in Europe continues to threaten the outlook for the global economy and financial markets.
Britain's FTSE 100 added 0.7%, the DAX in Germany edged up 0.1% and France's CAC 40 rose 0.5%
One bright spot for Europe Wednesday was an Italian auction of three- and 24-month bonds that drew strong demand and yields half as high as the previous month's auctions. The results helped lift European equities and banks.
Investors will be more closely watching Thursday's auction of Italian 10-year bonds, which have seen yields continue to flirt with the 7% danger zone. That level is worrisome because it flashed the first warning signs for Ireland, Portugal and Greece, which all eventually needed bailouts.
Asian markets ended mixed. The CSI 300 Shanghai Composite rose 0.1%, the Hang Seng in Hong Kong fell 0.6% and Japan's Nikkei lost 0.2%.
Oil prices eased off the previous sessions spike, slipping 33 cents to $101.01 U.S. a barrel. On Tuesday, crude prices jumped 2% after Iran threatened to choke off the flow of oil passing through the Strait of Hormuz.
Gold futures for February delivery fell $4.00 to $1,559.50 U.S. an ounce.
The U.S. dollar fell against the British pound, the euro and the Japanese yen.
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