Stocks are looking to open mixed Friday, with the broader market indicating a slightly lower opening and the techs looking a little brighter. Tech stocks are getting a boost from Nortel, which beat analyst forecasts with its fourth quarter sales and net loss reported yesterday.

Also, defense contractor Lockheed Martin Corp. reported stronger sales and a smaller loss.

On the downside, U.S. utility giant, American Electric Power Co., reported a US$837 million loss in its latest quarter. It is also cutting jobs and its dividend. As well, E*Trade Group Inc.’s chairman and CEO, Christos Cotsakos, has resigned.

In economic news, Statistics Canada offered a review of Canada’s labour market in 2002, noting that the country recorded its strongest job gains in 15 years in the wake of consumer and government spending, a rise in exports, and a booming housing market.

Job creation soared 3.7% last year, the strongest annual growth rate since 1987. By the end of 2002, employment had jumped 560,000 from where it began the year. In December, the proportion of the population that was employed stood at 62.4%, the highest on record. On an annual average basis, employment increased 2.2% in 2002. Manufacturing was the main source of strength, creating 125,000 new jobs.

Stocks are mixed in Europe, with financial firm, Lloyds TSB Group plc, leading gainers after Goldman Sachs raised its recommendation on the firm. Drug firms are weaker though. It was also reported that the U.K.’s economic growth was slowing in the fourth quarter. The FTSE is up 17 points to 3,639. The CAC 40 has gained 32 points to 2,949. The DAX is down 11 points to 2,800.

Overnight in Asia, stocks finished the week on a soft note. The Nikkei dropped 59 points to finish at 8,732. The Hang Seng lost 124 points to 9,461.

In earnings news, Royal Group Technologies is lowering its earnings forecast. The firm announced earnings per share for the first quarter of fiscal 2003 are anticipated to be in the range of 16¢ to 19¢. It had previously expected earnings to be in the range of 24¢ to 27¢.