Stocks look set for a strong rebound on the open today after yesterday’s selloff. Techs are poised to lead the way back after Compaq Computer Corp. and Apple Computer Inc. issued positive sales forecasts.

The optimism is spreading to the broader market on news of strong results at Citigroup Inc. and General Electric Co.

Thursday’s economic data is also positive, with news that U.S. initial jobless claims fell unexpectedly last week, dropping by 14,000 to 384,000. This is bolstering recovery hopes.

In Europe stocks are already up today, led by Siemens AG and Deutsche Telekom AG, with strong results in those firms rejuvenating techs and telecoms. The FTSE is up 36 points to 5,163. The CAC 40 has gained 56 points to 4,481. The DAX is strongest, up 110 points to 5,094.

Overnight in Asia, stocks were mixed. The Nikkei dropped 49 points to 10,128. The Hang Seng gained 50 ticks to 11,014.

In business news, Suncor Energy Inc. announced it set a new record for oil production and recorded unaudited consolidated earnings for 2001 of $388 million, up from $377 million in 2000.

Dorel Industries Inc. provided guidance for 2002 stating that it expects to earn between $1.90 to $2.00 per share for the year ending December 31, 2002. It also announced that it would record a special one-time after-tax charge against earnings of $12.4 million in fiscal 2001 in connection with a decision to increase the self-insured component of its product liability insurance program. Excluding this one-time charge, the company expects its earnings for 2001 to fall slightly short of the lower end of the forecast range of $1.40 to $1.50 per share provided in November 2001.

Labopharm reports that its net loss was $1,688,300 in the third quarter, compared with $698,100 for the same period last year.

MAAX Inc. reported net income increased by 14.5%, to $4.8 million in the third quarter, compared to $4.2 million for the same period a year earlier.