Stocks are looking at a mixed open this morning.

On the bullish side, there’s news that Robert McTeer, president of the Federal Reserve Bank of Dallas, said that he’s not in any hurry to raise interest rates, raising hope that the Fed will sit tight for a while.

As well, U.S. durable goods orders only rose 1.5% for February, and they were down excluding transportation. The slower growth picture adds to the hope that the Fed will let the recovery unfold before it starts hiking rates aggressively.

On the downside, accounting and earnings worries persist. Software firm Network Associates Inc. is being investigated by the SEC over its accounting practices, reviving those worries. And, Morgan Stanley Dean Witter & Co. reported a 16% drop in profit last quarter.

Markets are mixed already in Europe this morning. The FTSE is down 21 points to 5,183. But the CAC 40 has gained six points to 4,594. The DAX is up a point to 5,318.

Overnight in Asia, stocks were weaker again. The Nikkei lost 53 points to 11,208. The Hang Seng shed 50 points to 10,787.

In M&A news today, Royal Dutch/Shell Group is buying Pennzoil-Quaker State Co. for US$2.9 billion in cash and assumed debt.

Microcell Telecommunications Inc. announced that it is consolidating the PCS operations of its two wholly owned subsidiaries, Microcell Connexions Inc. and Microcell Solutions Inc. Both companies will be brought together under the same corporate entity once regulatory approvals have been obtained.

Diversinet Corp. says that it recorded a $1,725,000 net loss for its last quarter, an improvement from $5,437,000 in the same quarter last year.