The Toronto stock market was positive Wednesday amid disappointing news from the oil sector and rising commodity prices.The S&P/TSX composite index gained 21.29 points to 12,810.31 while the TSX Venture Exchange was up 11.26 points to 1,210.2.The Canadian dollar was down 0.05 of a cent to 99.68 cents US.U.S. indexes were slightly higher as January retail sales met expectations with the Dow Jones industrials ahead 3.99 points to 14,022.69.The Nasdaq was 7.77 points higher to 3,194.26 and the S&P 500 index gained 3.23 points to 1,522.66.U.S. retail sales ticked up 0.1 per cent last month after a 0.5 per cent rise in December. January’s increase was in line with expectations and was the smallest in three months after higher taxes cut into Americans’ wages.“However, given continued job gains through the start of this year, we are assuming that this slowing in sales will prove temporary and that greater strength will emerge going forward,” said RBC Assistant Chief Economist Paul Ferley.Talisman Energy Inc. (TSX:TLM) recorded US$367 million or 37 cents per share in quarterly net income, beating forecasts of 16 cents a share. But the gain was mainly due to disposal of some assets and the company continued to feel the effects of low natural gas prices. Talisman posted revenue of $1.6 billion, which was $300 million less than what was expected and its shares dipped two cents to $12.54.Thomson Reuters (TSX:TRI) posted US$497 million of adjusted earnings, or 60 cents per share in the latest quarter, compared with US$445 million or 54 cents per share in the fourth quarter of 2011. Net income attributable to common shareholders was US$372 million, compared with a year-earlier loss of US$2.6 billion.Thomson’s overall revenue, including discontinued operations, fell to $3.4 million from $3.6 billion, a five per cent decline. However, revenue from continuing operations was up two per cent from US$3.3 billion. Its shares were down 61 cents to C$30.11.Shares in CAE Inc. (TSX:CAE) were down 16 cents to $10.63 as the flight simulator builder said restructuring, integration and acquisition costs contributed to a reduced profit its fiscal third quarter.Montreal-based CAE says net income attributable to equity holders was $37.8 million or 15 cents per share, down from $45.6 million or 18 cents per share a year ago. Revenue for the quarter was up 15 per cent to $522.1 million.Traders are also taking in earnings during the day from Sun Life Financial (TSX:SLF) along with gold producers Kinross Gold (TSX:K) and Agnico-Eagle Mines (TSX:AEM).In the U.S., farm and construction equipment maker Deere & Co. says its first-quarter net income leaped 22 per cent to $649.7 million or $1.65 per share. Revenue rose almost 10 per cent to $7.42 billion. Analysts surveyed by FactSet had been expecting earnings of $1.39 per share on revenue of $6.73 billion and its shares lost $1.69 to $92.28.Commodity prices were mainly higher as March copper was up a penny to US$3.75 a pound and the base metals sector was up 90.6 per cent. Teck Resources (TSX:TCK.B) gained 45 cents to C$34.42.The March crude contract on the New York Mercantile Exchange rose 29 cents to US$97.80 a barrel amid falling U.S. inventories.A report late Tuesday from the American Petroleum Institute showed a drop of 2.3 million barrels in U.S. crude stockpiles last week. If confirmed by data from the Energy Department’s Energy Information Administration to be released later Wednesday, it would be the first fall in crude supplies in over a month.A survey of analysts by Platts, the energy information arm of McGraw-Hill Cos., was expecting crude stocks to have risen by 2.5 million barrels.The energy sector climbed 0.2 per cent while Husky Energy (TSX:HSE) improved by 38 cents to C$31.28.The financials sector rose 0.25 per cent while Manulife Financial (TSX:MFC) advanced 14 cents to $15.54.The gold sector fell 0.3 per cent as April bullion on the Nymex declined $1.30 to US$1,648.3 an ounce. Eldorado Gold (TSX:ELD) shed eight cents to $10.95.African Barrick Gold PLC (LSE:ABG) swung to a big loss in the fourth quarter as a major increase in its cost of sales more than offset slightly higher revenues. The company, majority owned by Toronto-based Barrick Gold Corp. (TSX:ABX), posted a net loss of just under US$46 million or 8.5 cents per share, down from a year-earlier profit of $55.1 million. Revenue rose to US$287.9 million from US$285.2 million. Barrick Gold faded 14 cents to C$32.41.Overseas, Japan’s benchmark Nikkei index tumbled one per cent as the yen strengthened against the dollar following a pledge by finance ministers from the world’s major advanced economies to refrain from intentionally weakening their currencies.Finance ministers from the Group of Seven nations said in a statement following a meeting in Brussels that they remained committed to exchange rates driven by the market, not government or central bank policies.Traders interpreted the statement as a message directed at Japan, where the yen has plummeted against the dollar since Prime Minister Shinzo Abe took office and pushed the central bank for ultra-loose monetary policy.Australian stocks closed at their highest level since September 2008. The S&P/ASX 200 gained 0.9 per cent after the release of strong earnings from Commonwealth Bank of Australia and construction company Leighton Holdings.South Korea’s Kospi advanced 1.6 per cent. Markets in mainland China, Hong Kong, Taiwan and Vietnam were closed for Lunar New Year holidays.European bourses were positive with London’s FTSE 100 index edging up 0.16 per cent. Frankfurt’s DAX gained 0.64 per cent while the Paris CAC 40 was up 0.2 per cent.