Stocks are expected to rise at the open today, led by the techs after Oracle Corp. issued a bullish forecast about its business prospects.

On the economic front, inflation remains dormant. The U.S. Consumer Price Index for November came in unchanged. The core rate, excluding food and energy prices, was up 0.4%.

U.S. business inventories fell 1.4% in October. This was the biggest drop in 10 years, thanks to heavy sales depleting inventories.

In M&A news, Vivendi Universal SA, Europe’s biggest media company, is buying 10% of EchoStar Communications Corp. for US$1.5 billion.

Despite the optimism in the U.S., European markets are weaker. French and Italian industrial production were both reported down in October, led by automakers. This is fueling fears of a recession.

In London, the FTSE is down 27 points to 5,047. In Paris, the CAC 40 is off 31 ticks to 4,379. The German DAX has lost 10 points to 4,956.

Overnight in Asia, stocks closed the week mixed. The Nikkei gained 78 points to 10,512 as the yen dropped to a three-year low. In Hong Kong, the Hang Seng lost 63 points however to 11,466.

One stock that likely won’t be gaining today is Calpine Corp. Rating agency Moody’s Investors Service said it may cut the firm’s credit rating to junk status.