Canada's main stock index closed down Tuesday with materials stocks under pressure. ET's S&P/TSX composite index was down 17.2 points, or 0.08 percent, at 20,528.16.
The Dow Jones Industrial Average rose to 34,843.22 yesterday, or 0.02%, from its previous close of 5.51 in the first quarter of last year.
The Nasdaq Composite fell 37.27 points, or 0.27 percent, to 13,994.54 at the opening bell.
In Canada, traders are nowawaiting the Bank of Canada's rate decision, with markets largely expecting the central bank to hold borrowing costs steady after last week's GDP numbers showed the economy fell in the second quarter. The bank's key rate is 5 per cent, after it resumed hiking in June and July after pausing earlier in the year.
RBC's worldwide head of fx strategy, Elsa Lignos, said.
This week's rate decision will be followed by an economic progress report from BoC Governor Tiff Macklem, delivered in a speech in Calgary on Thursday.
Canada markets will also receive the August jobs figures from Statistics Canada later in the week.
On the corporate side, convenience store operator Alimentation Couche-Tard Inc. reported results on Wednesday while recreational vehicle maker BRP reported on Thursday.
Overseas, the pan-European STOXX 600 was up 0.04 percent by midday. Germany's DAX was flat, while France's CAC 40 was off 0.07 per cent. The FTSE 100 edged up 0.30 per cent at the start of the session.
Japan's Nikkei edged up 0.3 percent in Asia, up from 0.0 by the year-earliers. The Hang Seng in Hong Kong sank to 2.06 per cent. China's services sector grew at the slowest rate in eight months in August, according to new data released by the nation's government. The Caixin/S&P Global Services purchasing managers' index fell to 51.8 in August from 54.1 in July, the lowest reading since December. The 50-point mark separates expansion from contraction in activity.
Crude prices rose just ahead of the North American opening bell, as OPEC+ production curbs helped offset disappointing economic data out of China.
Brent's market value in the early premarket period was US$88.06 to US$89.11. The range on West Texas Intermediate ranged from US$85.06 to US$86.14.
China's services sector grew at its slowest rate in eight months, igniting worries about demand in one of the world's biggest consumers of crude. However, expectations that OPEC+ members will extend supply curbs were mixed, he added.
Reuters reports Saudi Arabia will extend its voluntary cut by one million barrels per day to another three months until December 2023, the state state news agency SPA said on Tuesday. Besides, Russia is expected to unveil a new OPEC+ supply cut deal this week, according to its deputy prime minister. Moscow has already announced that it will cut exports by 300,000 barrels per day in September.
SPI's managing partner, Stephen Innex, said the company's managing partner, Robert W. Innex, was not immediately available for comment.
In other currencies, gold was down 0.1 per cent at US$1,936.19 per ounce, or 0.0 percent, at US$1,936.19 per ounce. The U.S. gold futures fell 0.3 percent to $1,9618.0, down from $1,9618.0 at the close of trading on Monday.
The Canadian dollar was down ahead of this week's rate decision, while the US dollar's safe-haven appeal boosted it against a group of global currencies.
The loonie's price range fell to 73.14 US cents to 73.60 US cents in the predawn period.
The U.S. dollar index, which tracks the greenback against six global currencies, rose 0.34 percent to 104.59 on Tuesday.
The euro was down 0.45 per cent at US$1.0747, with sterling falling 0.6 per cent to US$1.2555, with both their lowest levels since mid-June.
The Australian dollar fell 1.46 per cent to US$0.6372 hurt after the central bank left its benchmark cash rate unchanged for a third consecutive month.
In bonds, the yield of the U.S. 10-year note was higher at 4.216 per cent ahead of the North American open.
TFI International Inc., which focuses on the transport of food liquids and dry bulk commodities, has signed a deal with Vedder Transportation Group. The financial conditions of the deal were not immediately available. Vedder will join TFI International's specialized truckload business.
U.S. factory orders are expected to ship in July.