U.S. stocks were set to open higher, supported by encouraging earnings news. Apple and Texas Instruments both posted solid results after yesterday’s close. This morning, Caterpillar Inc., the world’s largest maker of bulldozers and excavators, posted third quarter profits that beat analysts’ estimates and issued a full-year earnings forecast that exceeded the highest prediction.
On the economic front, housing starts rose 0.5% in August, which was lower-than-expected. Permits, a sign of future construction, fell for a second time in the past three months. Separately, producer prices unexpectedly fell in September on lower fuel costs. Headline PPI fell 0.6%, while core PPI fell 0.1%
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