Stocks are looking at a mixed open this morning. U.S. futures have been gyrating around the unchanged level, suggesting no compelling direction for either techs or the broader market.

Profit sentiments and political developments are likely to drive the trade today.

Stocks were cheered by the closely-watched jobs report. Although the U.S. economy lost 199,000 jobs in September, its unemployment rate stayed at 4.9%.

The payroll drop was the biggest in 10 years, but the jobless rate was friendly. Some were predicting a jump above 5% for today’s numbers, although the effect of the September 11 terrorist attacks may not be felt in these numbers.

In the Canadian data, it was noted that data was collected the week of September 11, and anyone who worked in the first couple of days was counted as employed, subsequent massive layoff announcements are not yet in the data.

Nevertheless, employment rose by 20,000 in September after three consecutive months of small declines totalling 35,000. The unemployment rate was unchanged at 7.2%.

In September, full-time employment rose by 52,000, adding to the strong gain in August. The gains in August and September followed almost a year of little change in full-time employment. However, much of the jobs pain may be still to come.

In Europe, stocks are mixed. Telecoms such as Vodafone Group plc, Nokia Oyj and Ericsson AB are powering higher, while broader markets look a bit weaker. In London, the FTSE is up 55 points to 5,071. In Paris, the CAC 40 is down 11 ticks to 4,184. Germany’s DAX has gained nine points to 4,557.

Overnight in Asia, markets hardly blinked as traders stood pat ahead of the weekend. Japan’s Nikkei closed up less than half a point to 10,206. In Hong Kong, the Hang Seng dropped nine points to 10,277.

In business news, the Wall Street Journal is reporting that Enron Corp., the largest energy trader, is close to selling its Portland General Electric utility unit to Northwest Natural Gas Co. for about US$2.8 billion in cash, stock and assumed debt.

Canadian Medical Laboratories is bidding for DC DiagnostiCare Inc. at 60¢ per share. CML will offer approximately $18.8 million in cash and assume $33.8 million in debt in the deal.