Source: The Canadian Press

The Toronto stock market is expected to find strength today from better-than-expected earnings results from tech heavyweight Research in Motion (TSX:RIM).

The BlackBerry maker reported a record US$796.7 million profit in its most recent quarter, up 68% from a year ago, while revenue increased 31%.

RIM also said it expects to resolve its security concerns with countries such as the United Arab Emirates and India, which want access to encrypted data on BlackBerrys — a demand that threatens to undermine RIM’s reputation for highly secure communications.

In New York, stock futures pared their gains after the Organization for Economic Co-operation and Development said the global economy is off to a weaker start in the second half than expected.

Futures on the S&P 500 were up 3.7 points to 1,126.3, while Dow Jones industrial average futures added 29 points to 10,579. On the Nasdaq, futures were up 8.75 points to 1,958.5 ahead of the opening bell.

U.S. traders also rallied around strong profits from software company Oracle Corp., where strong revenue growth demonstrated that companies are investing in new technology — often considered a leading indicator for an economic recovery.

A report that U.S. consumer prices posted a small rise of 0.3% in August had little impact on futures trading. Outside of a big jump in volatile gasoline prices, inflation was essentially flat, the Labour Department reported.

The recession and the weak recovery since that time have banished inflation as an immediate threat. Sluggish demand is preventing most businesses from raising prices and high unemployment is keeping a lid on wage pressures.

A report on U.S. consumer sentiment could also affect markets. Rising consumer confidence would bode well for the market because it could mean a jump in retail sales, a primary driver of the economy.

The October crude contract on the New York Mercantile Exchange edged up 10 cents to US$74.67 a barrel in early trading, while the December bullion contract continued its rally, adding $6.20 to US$1,280 an ounce.

The Canadian dollar added 0.04 of a cent to 97.45 cents US.

Overseas markets rose around the upbeat technology reports out of the U.S. Britain’s FTSE 100 rose 0.24%, Germany’s DAX index gained 0.03%, and France’s CAC-40 climbed 0.07%. Japan’s Nikkei stock average rose 1.2% while Hong Kong’s Hang Seng index added 1.3%.