Stocks are poised to rise at the open this morning, as traders focus on the prospects for a rebound in the economy and profits.

Strong earnings indications from firms such as Yahoo! Inc., E*Trade Group Inc., and Genentech Inc. are boosting futures.

The economic data released this morning is helping too. U.S. initial jobless claims fell by 67,000 last week, against all expectations for a rise in the number in the aftermath of the September 11 attacks.

The only economic news in Canada today is the New Housing Price Index, which was up 0.2% in August from July. Compared with August 2000, this index of contractors’ selling prices increased 2.9%. Monthly rises occurred in 11 of the 21 urban centres surveyed.

As well, oil prices continue to rise on expectations for a production cut from OPEC.

In Europe stocks are generally up too, after the European Central Bank left its interest rates unchanged. Beaten up names such as Vivendi Universal SA, DaimlerChrysler AG and Credit Suisse are leading the way higher.

The FTSE is up 87 points to 5,240. The CAC 40 has gained 56 points to 4,376. The DAX is up 100 points to 4,713.

Overnight in Asia, stocks rallied very strongly on the news from Yahoo! and others. The Nikkei added 382 points to 10,347. The Hang Seng closed up 224 points to 10,523.