TORONTO – The Toronto stock market looked to start off little changed after a survey suggested about 20 per cent of Canadian companies expected to add to their payrolls in the third quarter and China’s inflation rate came in below the 3.5 per cent target.

The Canadian dollar was down 0.04 of a cent to 91.68 cents US with little in the way of domestic economic news this week.

U.S. futures were negative with the Dow Jones industrial futures down 23 points to 16,943.1, the Nasdaq futures declined 7.3 per cent to 3,7957 while the S&P 500 futures were down four per cent to 1,951.2.

Traders will digest news that China’s inflation rose to a five-month high of 2.5 per cent in May, driven by higher food prices. Chinese government data showed Tuesday that inflation still is below the ruling Communist Party’s 3.5 per cent target for the year, leaving room for interest rate cuts or other measures to stimulate the slowing economy if needed. May inflation was up from the previous month’s 1.8 per cent, boosted by a 4.1 per cent rise in food prices.

Chinese economic growth slowed to 7.4 per cent in the three months ended March 31 from the previous quarter’s 7.7 per cent. Other indicators suggest growth might slow still further in the current quarter.

In Canada, a survey by international human resources firm Manpower Inc. suggests about 20 per cent of Canadian companies expect to add to their payrolls in the third quarter.

Manpower Inc. says that figure falls to 10 per cent when seasonal variations are factored in, along with the four per cent of firms that expected to shed workers in the July-September period. That’s one percentage point higher than both the second and third quarters of 2013.

Most of the companies surveyed, 74 per cent, said they planned on keeping staffing levels the same, while two per cent were unsure what their hiring would be like in the upcoming quarter. The survey found that hiring intentions were most favourable in Western Canada.

On the corporate front, RadioShack’s first-quarter loss widened and revenue slumped as the retailer dealt with weakness in its mobile business and consumer electronics. Its performance missed Wall Street’s view. The stock dropped more than 18 per cent in premarket trading on Tuesday.

CEO Joseph Magnacca said in a statement that Radio Shack’s mobile business was hurt because the current handset assortment didn’t resonate well with customers. It was also contending with more promotions, including those of wireless carriers.

For the period ended May 3, RadioShack Corp. lost US$98.3 million, or 97 cents per share. That compares with a loss of $28 million, or 28 cents per share, a year earlier.

On the commodity markets, the July crude contract on the New York Mercantile Exchange was up 30 cents to US$104.71 a barrel.

August bullion was up $1.70 to US$1,255.5 an ounce and July copper fell eight cents to US$3.03.5 a pound.