Stocks are looking at gains on the open again today, as enthusiasm for tech stocks remains strong.

Names such as Intel and EMC are garnering positive analyst attention and are expected to lead the way.

The momentum is being restrained however by news that U.S. payrolls fell by 124,000 in December and the jobless rate is up to 5.8%.

Despite the continued job losses, analysts note that the rate of increased unemployment is slowing, suggesting that the worst may be over.

In Europe stocks trading higher, also led by optimism for its techs. European inflation was reported down to 2%, which could spark further rate cuts from the European Central Bank. The FTSE is up 26 points to 5,345. The CAC 40 has gained 19 ticks to 4,700. The DAX has added 54 points to 5,324.

Overnight in Asia, the Japanese markets finally opened, and they staged a rousing rally. The Nikkei closed up 329 points to 10,871. The Hang Seng joined in, adding 279 points to 11,702.

A couple of M&A deals are on the rocks. Willamette Industries Inc. has rejected Weyerhaeuser Co.’s $55 per share takeover proposal, calling the hostile bid too low.

Similarly, The Second Cup Ltd. announced that its board of directors recommends that shareholders continue to reject Cara’s $7.50 per share offer, saying it is below TD Securities valuation of $8.25 to $9.75 per share.