Canada's main stock index looked set to open lower as investors turned wary following a sharp cut in the global growth outlook by the World Bank and dismal economic data from the euro-zone.
The S&P/TSX Composite Index gained 38.88 points to end Tuesday at 12,641.97, with futures down 0.2% Wednesday morning.
The Canadian dollar sank 0.25 cents to 101.36 cents U.S. Wednesday morning.
Magna International Inc, one of the world's biggest auto parts manufacturers, said it expects total sales of $31.3 billion to $32.7 billion U.S. for 2013.
Antrim Energy Inc. said production at more than 20 oilfields in the northern North Sea was disrupted after a hydrocarbon leak was detected in one of the legs of the Cormorant Alpha platform.
CML HealthCare Inc. said it plans to sell its diagnostic imaging business and has started talks with potential buyers, three months after it agreed to sell its imaging business in Alberta for $17 million.
ON BAYSTREET
The TSX Venture Exchange forged out a gain of 2.26 points Tuesday to 1,231.79
ON WALLSTREET
U.S. stock futures were lower ahead of Wednesday's opening bell, as investors digest results from several major financial institutions.
Futures for the Dow Industrials dumped 45 points, or 0.3%, to 13,418. Futures for the S&P 500 sank 3.5 points, or 0.2%, to 1,461.70, and futures for the Nasdaq inched forward 1.75 points to 2,716
JPMorgan Chase beat expectations and posted earnings per share of $1.39 U.S. The company also revealed that the bonus of its chief executive, Jamie Dimon, was cut by more than half after the London Whale debacle over bad trades. Shares lost almost 1% before the bell.
Goldman Sachs reported better-than-anticipated earnings of $5.60 U.S. per share, which boosted the stock more than 2% in early morning trading.
Meanwhile, U.S. Bancorp earnings came in at 72 cents U.S. per share, in line with expectations, but shares fell nearly 1%. Charles Schwab will report before the opening bell.
The financial sector is expected to lead the way in earnings growth, according to analysts. Overall, S&P 500 companies are expected to report earnings growth of 3.2% for the last three months of 2012, according to S&P's Capital IQ.
As for economic reports, the government's key measure of inflation showed that U.S. consumer prices slowed to a 1.7% annual increase last month -- mostly due to a decline in gas prices.
The government was to release data on foreign purchases of Treasuries at 9 a.m., followed by reports on industrial production and capacity utilization.
At 2 p.m. ET, the Federal Reserve will release its Beige Book, a survey of regional economies.
Shares of Chipotle plummeted 9% in early trading, after the Mexican food chain restaurant revised fourth-quarter earnings well below analysts' expectations.
Boeing shares were down more than 4% on Wednesday morning. Two Japanese airlines grounded their fleets of 787 aircraft after one of All Nippon Airways' Dreamliners was forced into an emergency landing.
eBay reports after the close.
European markets were weaker in afternoon trading, with auto stocks falling on poor December registrations data.
Asian markets ended lower. The Nikkei dropped 2.6%, while China's Shanghai Composite shed 0.7% and Hong Kong's Hang Seng closed down 0.1%.
Oil prices acquired 12 cents to $93.40 cents U.S. a barrel
Gold prices gave back $6.60 an ounce to $1,677.30 U.S.
