By James Langton

(May 7 – 09:00 ET) – Stocks are pointing to a mixed opening this morning. Techs look a little brighter, but fears of a weaker U.S. economy appear to have the broader market pointing to a slide at the open.

Statistics Canada is reporting that the value of building permits declined for a second consecutive month in March. Builders took out $3.1 billion worth of permits, down 11.5% from February.

Construction intentions in the housing sector dropped 13.5% to $1.7 billion. The non-residential sector declined 8.8% to $1.4 billion. The scaling back of construction adds evidence to the picture of a slowing economy.

There’s no economic news in the United States today.

Overseas in Europe, markets are mixed. Markets are closed today in the United Kingdom. On the continent, the CAC 40 is up 26 points to 5,481. Germany’s DAX is down 22 points to 6.116.

After a week of on and off holidays in Asia, both its major markets opened up overnight. The Nikkei added 108 points to 14,529. In Hong Kong, the Hang Seng tacked on 210 points to 13,601.

In earnings news, TrizecHahn Inc. is reporting weaker net income for the first quarter. Net income in the period slipped to $19.8 million, from $22.7 million in the period a year ago.