Stocks are pulling back a bit in a mixed trading session today. Traders are pulling in their horns ahead of the long weekend, following news that April GDP fell into negative territory for the first time since September 2001. The industrial price report also has analysts concerned about corporate profits with a stronger dollar.

The S&P/TSX index is down just 14 points to 6977. Volume is fairly weak once again at 93 million shares, with selling outpacing the buying by a margin of 11:6. Market breadth is more even, although losers hold a 49:41 edge over winners.

The weakness is led by a 1% slide in techs. Health care, energy and consumer discretionary stocks are down too. Real estate stocks are the top-performing sector, up 0.9%. There are gains in golds and diversifieds.

Nortel is leading the techs lower, down about 2% in active trading.

The energy stocks are following EnCana lower. It has dropped 0.6% in active trading. There is also weakness in Baytex Energy, Bonavista Petroleum, PrimeWest Energy Trust, TransCanada, and Southern Cross Resources.

Shaw Communications is sliding 2.2% in active trading on news that it reported a third quarter loss of $13.2 million. The outlook for 2004 anticipates free cash flow will more than double over 2003, reflecting increased operating income of $80 million to $115 million and anticipated interest savings of approximately $40 million due to continued repayment of debt.

Other losers include Laidlaw, Biovail, Noranda Income Fund, Astral Media and Optipress.

Among the financials, the top traders are Great-West Life Co. and Canada Life, on news that Finance has approved their merger. Canada Life is down 1% on the news, GWL has dropped 2%.

The banks are mixed, with Royal Bank down about 0.7%. Scotia, CIBC and Bank of Montreal are stronger however.

Placer Dome is powering the golds higher, up more than 2% in heavy trading. Aur Resources is higher too.

CoolBrands is leading the upside, gaining 3.8% in heavy trading, as investors applaud its prospects.

Forbes Medi-Tech is a big winner, gaining 25%, after it hiked up its estimates, as it increased its projected sterol sales. Forbes has increased its revenue guidance for fiscal 2003 from US$9 million to US$11 million.

There are also gains in BCE, Telesystem International, Ashton Mining, Martin Rea, CanWest and Peyto Explorations.

In other earnings news, Viceroy Homes reported that net income for fiscal 2003 was $3.2 million vs $5.1 million in fiscal 2002. For the fourth quarter, the net loss was $1.8 million vs a net loss of $567,000 last year.

In New York, stocks opened higher, but have since pulled back on some mixed consumer confidence readings. The Dow is more or less unchanged at midday at 9079. The S&P 500 is down a point to 985. Nasdaq has gained 10 points though to 1644.

The small caps are sliding, with the S&P/TSX Venture index down three ticks to 1103. Volume is pretty heavy at 23.7 million shares. The top trader is Grey Island Systems, flat at 26¢ on 4.9 million shares traded.