A drop in U.S. jobless claims will get equity markets off to a good start this morning. The Labor Department is reporting that the number of workers filing first-time applications for unemployment benefits dropped to an eight-month low last week, down 23,000 to 382,000.

It’s the second time in the last month that weekly claims have been below 400,000 comfort level. Recent economic growth is finally encouraging employers to expand their payrolls — the first time in eight months.

On the bad news side, the sinking U.S. dollars is boosting the cost of goods imported to the U.S., says the Labor Department. Import prices declined 0.5% last month after a 0.1% gain in August. The reversal mainly reflected a 5.2% drop in petroleum prices. Non-petroleum prices rose 0.2%.

There are many Canadian companies, as well as the Canadian Auto Workers Union, who join American companies in concern over this trend.

Here in Canada a more voices are joining the chorus of calls for the Bank of Canada to lower interest rates again to stem the rise of the Canadian dollar, which is hurting Canadian exports. The Canadian dollar is trading at US75.06¢, up 0.07 of a cent.

Wall Street futures are up this morning as a slew of positive earnings reports continues to come in.

In Asia, the Nikkei blue-chip dipped 10.76 points to 10,531.44, after dropping 2.6% Wednesday as exporter worried about the U.S. reaction to the increase in import prices. In Hong Kong Hang Seng index gained 79.57 points to 11,800.37.

In Europe at midday, the bourses are up. London’s FTSE 100 index is up 0.7% near midday, rising 31.8 points to 4,300.4. Frankfurt’s DAX has advanced 1.2%. The Paris CAC40 has crept up 1%.

Markets in North American changed very little on Wednesday. Toronto’s S&P/TSX composite index rose 8.09 points to 7,569.30. The Dow Jones industrial average slid 23.71 points to 9,630.90, ending a five-day winning streak. The Nasdaq fell 14.07 points at 1,893.78. The S&P 500 index declined 5.47 to 1,033.78.