Wall Street futures are pointing to a moderately positive start for North American stock markets. Trading in Canada is likely to be muted ahead of the Bank of Canada’s interest rate decision tomorrow.

On Tuesday, the Bank of Canada is widely expected to cut short-term interest rates by a quarter-point to boost the economy. The central bank’s key overnight rate was last changed on Jan. 20, when it was dropped by a quarter-point.

On today’s business calendar earnings reports are due from CHC Helicopter Corp. and Kinross Gold, among others.

In the U.S., the Commerce Department is reporting that consumers spending and income continued to rise in January but the pace slowed. Personal consumption increased 0.4%, after advancing 0.5% in December, says Commerce. Income rose 0.2% after a 0.3% gain a month earlier. Economists had expected spending to rise 0.4% and income to climb 0.6%.

Disposable personal income, or income after taxes, rose 0.8%, after a 0.3% gain in December, says Commerce. Personal saving as a percentage of disposable personal income rose to 1.8% from 1.4%.

In Europe at midday, London’s FTSE index is up 0.52%, Frankfurt’s DAX is up 0.57% and Paris’s CAC 40 has risen a mere 0.42%.

In this morning’s earnings news, HSBC Holdings PLC Monday said net profit rose 41% in 2003 as its acquisitions of U.S. nonprime lender Household International and operations in Mexico began to return results.

The bank reported net income of US$8.77 billion, up from US$6.24 billion in 2002. Revenue was up 54% to US$8.77 billion, with strong growth in unsecured lending and improved U.S. credit quality in line with the strengthening economy.

In Asia, Monday trading ended on a positive note. Tokyo’s Nikkei Stock Average rose 229.2 points, or 2.08 per cent, at 11,271.12 — its highest finish since June 12, 2002. Hong Kong’s Hang Seng Index edged up 11.62 points, or 0.08 per cent, to 13,918.65.

Toronto stock market added 147 points last week to 8,788.49. In New York, the Dow Jones industrial index fell 35 points to 10,583.91, while the tech-heavy Nasdaq composite index also dropped for the week, falling eight points to 2,029.82.