NEW YORK SHARES

TOP STORIES

* Germany is likely to come under severe pressure to do more to stimulate growth and help the euro zone on a conference call between finance ministers of the world's major economies on Tuesday, a senior G7 source told Reuters.

* The Bank of Canada may signal that it is more reluctant to raise interest rates than it was seven weeks ago, without completely reversing its message that Canadians must prepare for higher borrowing costs down the road.

* Spain said credit markets were closing to the euro zone's fourth biggest economy as finance chiefs of the Group of Seven major economies were to hold emergency talks on the currency bloc's worsening debt crisis.

* Russian state firm Rosneft has hired a former TNK-BP executive to run its refining and marketing businesses, sources close to the companies said, bolstering a management team as BP pursues the sale of a stake in the country's No.3 oil producer.

MARKET SNAPSHOT

* Canada stock futures traded down 0.28 percent

* U.S. stock futures , , were down around 0.24-0.38 percent

* European shares, were mixed

COMMODITY PRICE MOVES

* Thomson Reuters-Jeffries CRB Index : 269.84; fell 0.06 percent

* Gold Futures : $1617.7; rose 0.34 percent

* US Crude : $83.67; fell 0.37 percent

* Brent Crude : $98.14; fell 0.72 percent

* LME 3-month Copper : $7361.2; fell 1.14 percent

CANADIAN STOCKS TO WATCH

* Cable manufacturer Belden Inc said it agreed to acquire Canadian broadcast equipment maker Miranda Technologies Inc in a deal valued at about C$372 million ($357.31 million).

* Westport Innovations. : Earth-moving equipment maker Caterpillar Inc will tie up with Westport Innovations to develop natural gas-powered engines for mining trucks and locomotives to take advantage of low prices for the fuel.

* Crocotta Energy Inc. : The oil and natural gas company expects its second-quarter output to more than double on higher drilling at Alberta and British Columbia, which could help the company exceed its full-year production outlook.

* Canadian Pacific Railway : The railroad said Paul Haggis has been elected chairman, three weeks after a bitter proxy battle with New York activist shareholder William Ackman led to top level resignations at the company.

ANALYST RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.

* Rainy River Resources : CIBC cuts price target to C$8 from C$11 to reflect revised estimates for project development and financing of the RRGP project, rating sector performer

* Blackpearl Resources Inc : Canaccord Genuity cuts price target to C$6.50 from C$6.75 to reflect the recent weakness in oil prices; rating buy

ON THE CALENDAR

* Major Canadian economic data includes building permits and Bank of Canada rate decision

* Major U.S. events and data includes ISM Non-manufacturing

U.S. stocks could face another rocky session, as investors await the latest discussions on how to solve Europe's debt crisis.

Dow Jones industrial average, S&P 500 and Nasdaq futures were all slightly lower. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

Attention will remain focused on Europe as the Spanish banking system teeters on the edge of collapse, and Greece comes closer to a possible exit from the euro.

Spain's Treasury Minister Cristobal Montoro told a Spanish radio network early Tuesday that the country was nearly shut out of global finance markets, and that its banking system would need help from other European countries. Yields on Spain's 10-year bond crept slightly higher to 6.4%.

Credit rating agency Standard & Poor's said Monday that there is a one-in-three chance Greece will leave the euro currency union in the coming months.

Finance officials of the world's seven largest economies, the G-7, are reportedly holding an emergency call Tuesday to discuss the crisis.

In the United States, economic data on tap includes the Institute for Supply Management's services index. But even positive news could be drowned out by other concerns, said David Kelly, chief global strategist for JPMorgan Funds.

"There is a general gloom that has enveloped markets," Kelly said. "The markets are more focused on Spain right now, but the greatest threat to eurozone is in the hands of the Greek voters. Until we get some clarity from (the June 17) Greek elections, we won't know what's going to happen."

Kelly said that he believes stocks have become oversold, as investors have moved out of riskier assets such as equities and into U.S. Treasuries in the last month. He said that stock values relative to bonds are at their cheapest point in the last 50 years.

The price on the benchmark 10-year U.S. Treasury was little changed Tuesday morning, leaving the yield near its 1.53% level late Monday.

"Are there concerns? Yes. Is it the gloomiest environment in the last 50 years? No," he said. "Those stretched valuations is making it hard for markets to fall significantly further.'

CNNMoney's Fear & Greed Index remained in extreme fear territory Tuesday.

U.S. stocks finished little changed after a choppy trading session Monday.

World markets: European stocks were mixed in afternoon trading. The DAX in Germany slid 0.8%, while France's CAC 40 edged up 0.7%. London's stock market is closed Tuesday in celebration of the Queen's Diamond Jubilee.

Asian markets ended on a higher note. The Shanghai Composite ended up about 0.2%, while the Hang Seng in Hong Kong added 0.4% and Japan's Nikkei rose 1%.

Economy: The ISM's services index for May is due out at 10 a.m. ET. Economists surveyed by Briefing.com expect the index to fall slightly to 53.1 from April's 53.5. But any reading above 50 still indicated growth in the service sector, which makes up the majority of the U.S. economy.

Companies: Starbucks announced plans to buy a bakery chain after the market closed Monday. Preliminary news of an impending business initiative sent shares higher at the close, but the acquisition itself was not enough to keep investors' interest. Shares fell 2.2% in premarket trading.

Facebook shares continue their slide early Tuesday, losing another 1% in premarket trading after a 3% drop on Monday. Reports Monday that Facebook is looking at ways to allow children younger than 13 to use the site is prompting new criticism of the social networking company.

Currencies and commodities: The dollar rose against the euro and British pound, but fell versus the Japanese yen.

Oil for July delivery slid 25 cents to $83.73 a barrel.

Gold futures for August delivery rose $5.80 to $1,619.70 an ounce.

Arnold, 47, will succeed Robert Moore, whom LPL on May 1 named as its president and chief operating officer. Moore, who is 50, will transfer his CFO responsibilities to Arnold over three months. Arnold will be based in San Diego.

Before leading corporate strategy in October, Arnold had served as president of Institution Services, which Boston-based LPL acquired about five years ago to provide third-party investment and insurance services to banks and credit unions.

Moore, in an interview, said Arnold was chosen over "dozens" of external and internal candidates in a search process that began in January.

The transition follows a busy period for LPL Investment Holdings Inc, which was acquired by private equity firms TPG Capital and Hellman & Friedman in 2005 and went public in a late 2010 initial public offering.

In recent months LPL announced a special dividend, plans to pay a regular dividend and secondary stock sales that trimmed the stakes held by the private equity owners. LPL also refinanced its debts.

"It became clear to me that most of my work has been done in my tenure as CFO and in creating the right conditions for this transition," Moore said. (Reporting By Joseph A. Giannone; Editing by Walden Siew, Bernard Orr)