Stocks are expected to open higher this morning as bargain hunters begin to emerge.

Some positive economic news is helping sentiment. U.S. durable goods orders rose 12.8% in October, the first rise in five months. The jump was driven by transports, but even ex-transports orders were up.

But there is bad news on the jobs front, U.S. initial jobless claims rose 54,000 last week. It was the first increase in five weeks.

In Canada, industrial product prices dropped 1% in October from October 2000, their first negative growth since February 1999. Raw materials prices continued to decline on a year-over-year basis for a third consecutive month of negative growth.

Petroleum and coal product prices declined 17.1% in October, if they were excluded, the IPPI would have risen 0.3% instead of falling 1.0%. If mineral fuels were excluded, the RMPI would have declined 4.3% in October on a year-over-year basis instead of falling 12.1%.

In Europe, stocks are up as insurance stocks improve on the expectation of premium increases. Techs are looking up a bit, too. The FTSE is up six points to 5,211. The CAC 40 has gained 11 points to 4,457. The DAX is up 15 points to 4,931.

Overnight in Asia, stocks made some gains. The Nikkei added 31 points to 10,656. The Hang Seng was up 25 points to 11,091.

In business news, Shell Canada announced a planned capital and exploration expenditure program totaling $4.4 billion over the next five years. Of this total, $1.2 billion is related to the Athabasca Oil Sands Project. The program also includes $1.3 billion to progress opportunities in the East Coast and Mackenzie Delta frontier areas over the next five years.

In earnings news, Rider Resources Inc. reported net income was $144,000 in the last quarter.