Stocks are mixed today, as traders look ahead to Friday’s big jobs reports. There is hope that the U.S. economy is finally going to start showing some growth in that area. However, enthusiasm is tempered by some weak building permit data in Canada. At midday, the S&P/TSX composite index is 16 points higher at 7,976.

Toronto volume is decent at 145.8 million shares, with the selling edging out buying by a margin of about nine to eight. Market breadth is modestly positive nonetheless, with winners outnumbering losers 56:51.

Stock specific news is driving health care stocks higher, and there are also gains in real estate, telecoms and energy.

Golds are down, dropping almost 2%, and there is modest weakness in mining stocks, too.

Forestry stocks are all making strong gains on news that Canada and the U.S. are in serious talks aimed at ending the long-running softwood lumber dispute. Abitibi has gained 6% on heavy volume of 6.4 million shares. Domtar is up 5%, Tembec has gained 10%, and there is similar strength in International Forest Products, Norske Skog and SFK Pulp Fund.

Resource companies are generally doing well, with Alcan up 1.8%, EnCana gaining 1.5%, there are also gains in Teck, Petro Canada, Penn West Petroleum, and Suncor Energy.

Golds are the notable exception, as some of their flight to safety status evaporates. Wheaton River is 2.7% lower, Barrick is down 0.4%, Golden Star Resources has dropped 6%, and there is conspicuous weakness in Eldorado Gold, Northern Orion Exploration, Iamgold, Cambior and Ivanhoe Mines.

Biotechs are also looking strong, led by a 45.6% jump in Hemosol on news that it has forged a partnership with ProMetic Life Sciences Inc., that will include Hemosol in-licensing the novel plasma separation technology developed by ProMetic and the American National Red Cross.

Stressgen Biotech is up 15% on news that the U.S. Food and Drug Administration has designated its lead immunotherapeutic for human papillomavirus-related diseases, as a fast track product development program. The fast track product development programs of the FDA facilitate the development and expedite the review of designated new drugs and biological products. Biovail and Diagnocure are both stronger too.

Other gainers include Workbrain, which is up 28% on news that it has arranged a $40 million financing. CP Rail is up, as is BCE.

Financial stocks are mixed. Both Manulife Financial and Royal Bank are making gains, but there is weakness in Scotia, which is down 1.2%. CIBC is a little lower. National Bank and Laurentian Bank are down, too.

National announced it earned a $624 million profit in 2003, including net income of $158 million in the fourth quarter, compared with $135 million in the corresponding quarter of 2002.

In other market moves, Nortel is down 1.2%, there is weakness in Mitec Telecom and Agrium is lower, too.

In other market news, preliminary investigations into the cause of two pipeline breaks earlier this week on TransCanada’s Alberta system have shown the breaks are likely due to external corrosion on the pipeline.

Boralex Inc reported that its’ fourth quarter ended with a net loss of $4.2 million, versus net earnings of $2.4 million in 2002.

FPI is planning a 5% share buyback.

In New York, the markets are rallying once again today, as traders look toward strong jobs numbers. The Dow Jones industrial average is up 50 points, albeit on light volume, to 9,924. The Nasdaq composite index is six ticks higher at 1,966.

The S&P/TSX Venture is not enjoying the gains, it is down an unusually strong 21 points to 1691. Volume remains decent there at 45.8 million shares. The day’s top trader is Medbroadcast Corp, which is down 5.5¢ to 28¢ on heavy volume of 5.2 million shares.