Jobless claims have been steadily improving in the U.S. in recent weeks, but Statistics Canada is reporting today that the estimated number of Canadians receiving regular Employment Insurance benefits in August moved up 1% from July to 588,890. That marks the seventh consecutive monthly rise.

The August gain was driven by increases in joblessness in Ontario (+2.1%), British Columbia (+1.2) and Quebec (+0.6%). Over the past six months, Ontario and .C. have registered consecutive monthly increases. Notable decreases were recorded in Manitoba (-5.4%), Newfoundland and Labrador (-1.8%) and Alberta (-1.6%).

South of the border, the economic news is better with the U.S. Department of Commerce reporting that orders for big-ticket items increased in September by 0.8% to US$176.26 billion. That follows a 0.1% drop in August, revised up from a previous estimate of a 1.1% fall.

Transportation orders fell 0.1%, pulled down by a 3.9% drop in civilian aircraft orders. But orders for cars and parts rose 7.6% and defense-related aircraft orders rose 1.6%.

If transportation orders were excluded, durable-goods orders would have risen 1.2%. Defense capital-goods orders plunged 26.7%, after a 35.9% rise in August. If defense orders were excluded from overall durable-goods orders, overall orders would have risen 2.6% last month. Orders for computers and electronic products rose 2.6%.

The U.S. Federal Reserve will be making its latest announcement on interest rates later today. The Street consensus is that rates will remain at a 45-year low of 1%, with the risk bias should lean toward low inflation.

Wall Street futures are positive ahead of he Fed announcement, pointing to a positive start for equities. Meanwhile, in Europe at midday, London’s FTSE index is up 0.31%. Frankfurt’s DAX has climbed 1.35%. Paris’s CAC 40 is up a slight 0.96%.

The big news in Asia overnight came from Sony Corp., which says it will slash 20,000 jobs over the next three years. The Nikkei gained 106.89 points, or 1.02%, to 10,561.01.

In Hong Kong, the main Hang Seng Index rose 342.16 points, or 2.9%, to 12,091.88.

On the Canadian earnings front, reports are expected today from Domtar Inc., EnCana Corp., Manulife Financial, Sun Life Financial, Brookfield Properties and TransCanada Corp., among others.

On Monday, Toronto’s S&P/TSX composite closed 49.79 points higher at 7,664.19. Nortel Networks contributed to a 2% boost in the information technology sector, rising 17¢ to $5.62 after dropping 40¢ last Friday.

The Dow Jones industrial average closed well off its high of the day but managed a 25.7-point gain to 9,608.16. The Nasdaq composite advanced 17.32 points to 1,882.91. The S&P 500 index added 2.22 points to 1,031.13.