Stocks are expected to follow the lead of rising European markets, and climb slightly this morning, based on a slew of moderately positive economic reports.

The number of U.S. workers filing first-time applications for unemployment benefits rose by 17,000 last week but stayed inside the range that indicates an improving job market. The U.S. Federal Reserve policymakers has become more cautious about the outlook for the job market, however many U.S. economists expect growth to be strong enough to generate about 200,000 jobs a month over the next six months.

Meanwhile, personal income in the U.S. rose modestly in November – up 0.3%, after rising 0.6% in October, says the Commerce Department. Personal consumption rose 0.2%, after climbing a revised 0.8%. Spending was initially seen going up 0.7% in October.

Here at home, the news is less positive. Statistics Canada is reporting economic growth remained at a standstill in October, due to reduced foreign demand for fabricated products and to labour strife.

Industrial production — factories, mines and utilities — decreased by 0.2% in October. Manufacturers and utilities reduced their output by 0.3%. The output of the mining sector however increased 0.2% due to intense oil and gas exploration activities and to the resolution of a labour dispute.

Overnight in Hong Kong, shares ended higher led by gains in port operators and real-estate developers. The blue-chip Hang Seng Index rose 84.2 points, or 0.6%, to 14235.30 points. Japan’s markets were closed Thursday due to a national holiday.

Stocks are up in Europe this morning. London’s FTSE-100 has gained 0.1% to 4779. In Paris the CAC-40 Index has advanced 0.2% to 3815. Frankfurt’s Xetra Dax Index is up 0.1% to 4246.