The week is starting on a positive note with the U.S. Commerce Department reporting that American businesses boosted their stockpiles of goods for the first time in six months, in September. Economists see it as a sign that companies may be regaining confidence about the economy.

Inventories increased 0.3% in September to $1.18 trillion, following a 0.4% decline in August. September’s rise was the first since March, when businesses also increased their supplies at warehouses and backlots by 0.3%.

There is another positive report out of the New York Federal Reserve this morning stating that manufacturing activity improved substantially in November, the seventh straight month of upbeat readings. The Empire State Manufacturing Survey that its general business-conditions index shot up to 41.01, a second straight monthly record, from 34.11 in October.

Conrad Black is figuring prominently in Canadian business news this morning with the announcement of his retirement as chief executive of Hollinger International Inc. The debt-laden media company also says it is contemplating a sale one or more of its major properties, and even the entire company itself.

Despite the positive economic reports, this morning’s Wall Street futures are following the path pf Friday’s losses. The outlook, for the morning at least, is gloomy.

Asian stock markets finished their Monday trading down. In Tokyo, fears that Japan, as an ally of the U.S., may be among the next terrorist target sent the Nikkei average tumbling down 3.7%. Hong Kong’s Hang Seng index fell 206.51 points, or 1.7%, to 11,997.02.

In London at midday, the FTSE 100 index is down almost 1%. Frankfurt’s DAX is down 2.4% and the Paris CAC-40 has dropped 1.9%.

On Friday, Toronto’s S&P/TSX composite slipped 15.23 points Friday to 7,752.39, down 1.4% for the week.

The Dow Jones industrial average lost 69.26 points to 9,768.68, off 0.4% for the week. The Nasdaq composited index fell 2% for the week, with Friday’s loss of 37.09 points to 1,930.26.

In financial planning news, Statistics Canada issued a special report this morning on Canada’s principal retirement programs. Their reserves increased substantially during the 1990s, although accumulation in the biggest program has leveled off since the turn of the century, according to a new long-term look at pensions.

In total, Canadians had accumulated an estimated $1.15 trillion in the three main retirement programs by the end of 2001, almost double the level of $593.6 billion in 1990, when measured in constant (inflation adjusted) dollars. Of the total in 2001, 69% of assets were in employer-sponsored registered pension plans, 25% in registered retirement savings plans and about 6% in the Canada/Quebec pension plans.

The value of assets in RPPs peaked at almost $826.4 billion in 2000, and then fell slightly to about $794.1 billion in 2001. This was due in part to falling stock prices that resulted in a devaluation of fund assets. As of Jan. 1, 2002, just fewer than 5.5 million members, or about 40% of total paid workers, were participating in 13,861 registered pension plans.

This membership was an increase of 2.9% from 1992. At that time, RPPs covered 5.3 million paid workers, or about 45% of the total, in 18,028 registered plans. Canadians had nearly $292.5 billion invested in RRSPs at the end of 2001, and about $64.7 billion in the CPP/QPP.