Stocks are looking at another positive open Thursday. Once again widespread talk about a possible cut to U.S. interest rates next week, or even a bias change by the Federal Reserve, appears to be fueling the bulls.

Also helping is the IMF’s $30 billion bailout for debt-ridden Brazil and a rosy outlook from retail leader Wal-Mart Stores Inc.. Wal-Mart reported that its profit will beat forecasts, although sales have been slower than expected.

Qwest Communications International Inc. reported its ninth straight quarterly loss. Best Buy cut its earnings forecasts. And, Champion Enterprises Inc. is cutting 1,500 employees and taking a US$250 million charge in its latest results.

The only economic news out so far today is Canada’s Help-wanted Index, which increased slightly to 128.3 in July, up 0.5% from June. This is the sixth consecutive month of small increases, following 15 straight months of declines from November 2000 to January 2002. Ontario, Quebec and New Brunswick led the turnaround in the Index.

In Europe, stocks are up in early trading today. Names such as BASF AG, Aegon NV and Reed Elsevier Group plc are all higher after reporting their latest profits. The European Central Bank has indicated that it will leave interest rates unchanged for the foreseeable future. The FTSE has gained 118 points to 4,213. The CAC 40 has added 110 points to 3,380. And, the DAX has jumped up 134 points to 3,600.

Overnight in Asia, traders were not quite so bullish. The Nikkei dropped 35 points to close at 9,799. The Hang Seng lost 15 points to finish at 9,962.

On the financing front, BCE Inc. announced that its underwriters have exercised the over-allotment option to acquire an additional 11 million common shares, at a price of $24.45 per share. As a result, the total gross proceeds of its latest offering will be approximately $2 billion.

In earnings news, TransForce Inc. announced its net income rose to $7.8 million compared to $4.1 million during the same quarter last year.

Héroux-Devtek Inc. announced net income for the first quarter decreased 25.9% to $3 million, compared to $4.1 million for the same period last year.

Gildan Activewear Inc. said that its net earnings for the third quarter were $27.7 million, up 71% from net earnings of $16.2 million in the third quarter last year.