The Toronto stock market looked set for a slightly higher open Tuesday amid relief that euro-zone officials have agreed on getting the next instalment of crucial bailout money to Greece.
The S&P/TSX Composite Index slid 45.08 points to end Monday at 12,168.16
The Canadian dollar gained 0.26 cents to 100.92 cents U.S. Tuesday morning amid higher oil and copper prices.
The TSX could find some strength from Bombardier Inc. after the transport giant announced what it calls the biggest sale of business aircraft its history, a deal that could potentially be worth up to $7.8 billion if all options are exercised.
VistaJet has placed firm orders for 56 Bombardier Global jets valued at $3.1 billion and acquired options for another 86. VistaJet provides private luxury chartered jets with a fleet of Bombardier aircraft based in Europe, the Middle East, Asia and West Africa.
ON BAYSTREET
The TSX Venture Exchange slumped 34.97 points Monday to 1,224.
ON WALLSTREET
U.S. stock futures were mixed Tuesday, after Greece reached a deal with euro-zone leaders over its debt.
The Dow Jones Industrials futures inched back nine points, or 0.1%, to 12,927, while S&P 500 futures slid 0.3 points to 1,403, and futures for the tech-rich Nasdaq moved ahead 5.75 points, or 0.2%, to 2,651.50
On the domestic front, investors will continue to keep an eye on negotiations in Washington. With Congress back in session, lawmakers are under pressure to reach a deal with the White House before the end of the year in order to avoid falling over the fiscal cliff.
Investors will also get readings on consumer confidence, housing and manufacturing due out in the morning.
A report on durable goods is due before the bell, with a consensus of economists surveyed by Briefing.com expecting a decline of 0.4% for October.
At 10 a.m. ET, the U.S. Conference Board will release its report on consumer confidence. This month's figure will be particularly important, as retailers gear up for the holiday shopping season. Economists expect a slight uptick in November.
Euro-zone finance ministers and the International Monetary Fund announced late Monday they had reached an agreement that moves Greece closer to receiving a massive bailout payment. The deal includes lower interest rates for Greece, a debt buyback and more time for the debt-laden country to repay its rescue loans.
But the Organization for Economic Cooperation and Development warned early Tuesday that Europe's worsening economy next year will slow U.S. growth more than previously forecast.
European markets rose in midday trading, with Britain's FTSE 100 up 0.5%, Germany's DAX rose 0.6% and France's CAC 40 added 0.4%.
Meanwhile, Asian markets ended mixed. The Shanghai Composite lost 1.2%, while the Hang Seng in Hong Kong ended up about 0.2% and Japan's Nikkei rose 0.4%.
Oil for January delivery gained 24 cents to $87.98 U.S. a barrel.
Gold futures for December delivery fell $2.20 to $1,747.40 U.S. an ounce.
