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(Reuters)
TORONTO (Reuters) - Toronto's main stock index may open lower on Wednesday as a drop in commodity prices may weigh on the resource-heavy index while corporate earnings out of the United States could also influence direction.
U.S. stock futures were weighed down by earnings from the world's second-largest plane maker Boeing Co , which posted a disappointing quarterly net loss, and this may impact sentiment in Canada.
The TSX ended flat in the previous session given a late surge by Cameco Corp on the possibility of a jump in uranium prices after early strength in Barrick Gold and other gold miners dissipated on lower gold prices.
The S&P/TSX composite index finished down 0.27 of a point at 11,538.12 on Tuesday.
Here is some news that could affect the market:
RESEARCH IN MOTION
Research In Motion is rolling out an updated version of its top-end BlackBerry Bold smartphone, aimed at the company's base of professional users as well as wealthier retail consumers.
CANADIAN NATIONAL RAILWAY
CN reported a better-than-expected 13 percent drop in third-quarter profit on Tuesday as deep cost cuts helped cushion the impact of the recession.
OIL PRICES DROP
Oil fell toward $78 a barrel on Wednesday, extending the previous session's decline from a one-year peak after a bigger-than-expected rise in U.S. crude oil inventories.
GOLD EASES
Gold prices softened but held well above $1,050 an ounce in Europe on Wednesday, awaiting direction from the foreign exchange markets, as the previous day's recovery in the dollar index petered out.
($1=$1.06 Canadian)
(Reporting by Frank Pingue, Editing by Chizu Nomiyama)
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