Investors have some mixed economic performance news to mull over this morning. Statistics Canada said Wednesday that wholesalers sold $35.8 billion worth of goods and services in June, essentially the same figure as in May.

Second quarter sales declined 1.9% from the first quarter. This quarterly contraction was the biggest since the first quarter of 1998. Some sectors, however, posted increases, including industrial machinery which posted a 1.7% gain. An increase in this sector is often seen as a positive omen for recovery.

There are no major economic reports coming out in the U.S. today. Instead, investors are focusing on disappointing results from technology leader Hewlett-Packard Co. Shares of Hewlett-Packard.

After yesterday’s close, HP reported quarterly sales and profits below forecasts, due to personal computers discounting in response to competition from rival Dell Inc. The news will also hurt Toronto stocks.

In Europe, markets are already down. London’s FTSE index has fallen 0.68%. Frankfurt’s DAX has dipped 0.13% and Paris’s CAC 40 has dropped 0.5%.

Overnight in Asia, Tokyo shares rose for a third-straight session on foreign buying amid recent signs of an improved Japanese economy. The Nikkei soared 117.96 points, or 1.16%, to finish at 10,292.06.

Hong Kong stocks declined marginally for a second consecutive session. The Hang Seng Index dropped 33.96 points, or 0.3%, finishing at 10,475.33.

On Tuesday, the S&P/TSX composite index rose 63.58 points to close at 7,474.91.

In New York, the Nasdaq Composite Index closed at its highest in 16 months.

The tech-heavy Nasdaq rose 21.50 points to 1,760.99, its highest close since April 2002. The Dow Jones industrial average rose 16.45 points to 9,428.90, while the broader S&P 500 index gained 2.59 points to finish at 1,002.33.

Canadian bank earnings season kicks off today, with CIBC scheduled to release its results.