Stocks are looking at an opening rally Friday on hope that the U.S. consumer confidence data due out later today will show a rebound.

There is already some economic data out today in the form of U.S. business inventories, which were up 0.5% in September, as wholesale sales declined. Also, the Producer Price Index rose 1.1% last month, with the core rate gaining 0.5%. Thee PPI increase was more than expected, driven by higher oil, food and vehicle prices.

Stocks are already up across Europe, on some stronger than expected earnings out of firms such as Vodafone Group plc and Bayer AG. The FTSE is up 45 points to 4,098. The CAC 40 has gained 34 points so far to 3,183. And, the DAX is up 30 points to 3,218.

Overnight in Asia, stocks also finished the week on an up note. The Nikkei gained 200 points to close at 8,504. And, the Hang Seng added 125 points to finish at 9,866.

In other business news, WorldCom Inc. has tipped former Hewlett-Packard Co. president Michael Capellas to serve as its next chairman and CEO.

On the earnings front, Call-Net Enterprises Inc. reported net income for the quarter was $29.1 million. Excluding unusual items of $97.6 million, Call-Net had a net loss of $68.5 million.

Zi Corp. announced its net loss for the third quarter of 2002 was $20.8 million, compared to $3 million for the same period a year earlier.