Stocks are looking at a higher open this morning, following some encouraging economic news in the U.S.

Orders for U.S. durable goods orders came in up 1.1% in April, and excluding transportation the numbers were even stronger, rising 2.9%. These numbers reveal building demand for equipment and machinery.

Also, initial jobless claims fell by 9,000 last week, dropping to its lowest level in two months, suggesting that more people are getting back to work.

In Canada, it was reported that foreign investors acquired $3.7 billion of Canadian debt instruments in March while reducing their holdings of Canadian stocks by a similar amount.

Also, the Composite Index gained 1.2% in April after a 1.3% increase in March, the best consecutive advances in nearly 20 years.

The worries about corporate accounting still haven’t gone away however, with news that Peregrine Systems Inc. will have to restate its financials. The firm is also being investigated by the U.S. Securities and Exchange Commission.

In Europe, stocks are mixed in a light session so far today. The FTSE has dropped three points to 5,148. The CAC 40 has gained 34 points to 4,360. The DAX has gained just a point to 4,921.

Overnight in Asia, stocks were mixed once again. The yen was falling against the dollar, as the Bank of Japan sells it. Nevertheless, the Nikkei gained 18 points on the day to 11,980. The Hang Seng dropped 170 points though, closing at 11,625.

In M&A news, Man Group plc is buying Switzerland’s RMF Investment Group for US$833 million in cash and stock to become the world’s largest hedge fund manager.

Surrey Metro Savings announced that its members and non-voting shareholders have voted in favour of merging with Coast Capital Savings.

It is also being reported that Bank of Nova Scotia has asked Argentina’s central bank for permission to liquidate most of the US$1.1 billion assets of its Buenos Aires-based unit.