Stocks are looking mixed this morning, with techs weak and the broader market rebounding a little, after the Dow Jones industrial average closed below 10,000 yesterday

Although it’s expected to be a quiet trading day ahead of the Labour Day weekend, there’s a ton of economic news out. Canadian real GDP edged up 0.1% in the second quarter, slowing from the 0.5% increase in the first quarter.

This was the slowest rate of GDP growth since the third quarter of 1995. GDP growth has averaged 0.5% over the past four quarters, after averaging 1.2% over the preceding four quarters.

In June, Canada’s economic activity actually receded 0.2%, erasing a 0.3% gain in May. It was the economy’s largest monthly decline in more than a year, thanks to a decline in production lowering output in the goods sector.

Another sharp drop in electronic products manufacturing, a lowering in mining exploration activity and a decline in public sector services output accounted for the lion’s share of the economy’s reversal in June.

Output in the finance industries fell, as stock market performance flagged. Total factory output fell 1% in June, after a 0.7% increase in May, the result of deeper cuts to production by manufacturers of electronic products.

On the trade front, Canada’s current account surplus remained strong in the second quarter, posting the second highest level on record, $9.9 billion, down from an exceptional $13.5 billion in the first quarter. The surplus fell as exports of energy products dropped both in price and volume.

Over in Europe, stocks are bouncing back a little today, after a rough day yesterday. The FTSE is up 14 points to 5,346. The CAC 40 is up six ticks to 4,710. The DAX has gained 25 points to 5,188.

Overnight in Asia, stocks ended the week with about a 2% drop, following Wall Street’s weakness. Also, Hitachi Ltd., Japan’s biggest private employer, said it will slash 14,700 jobs, or about 4.5% of its workforce. The Nikkei closed down 225 points to 10,714. The Hang Seng also gave up 225 points to 11.090.

In M&A news, Dutch phone giant Royal KPN NV has ended talks with Belgian rival Belgacom SA.