Skip to main content

North American stocks are ready to rise Tuesday as investors around the world breath a sigh of relief that Dubai appears on track to restructure a large amount of its outstanding debt.

Stock market futures were up for the major U.S. and Canadian exchanges, while European and Asian markets climbed as much as 2 per cent.

With the Dubai contagion fears dissipating, investors will refocus on the fundamentals as a raft of economic news appears. Several key reports are to be released at 10 a.m. ET, including the U.S. Institute for Supply Management's release on how well manufacturing and the overall economy are actually expanding. Economists don't expect much improvement in the ISM manufacturing index from October because manufacturing at the moment seems to be limited to restocking companies' inventories rather than feeding growth.

Story continues below advertisement

U.S. spending on construction for October is expected to have fallen half a percentage point, giving up gains from September. The pending home sales index is also expected to have declined after improving the previous month.

Report an error
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to If you want to write a letter to the editor, please forward to