Equity futures were trading slightly higher in pre-market action as investors reacted to better-than-expected housing data.Housing starts rose 15% to 658,000, the highest level in 17 months. The consumer price index in September was up 0.3% with the core index up 0.1%.
Dow futures fell 12 points to 11,538; S&P 500 futures were flat shortly before 9 a.m.
Apple (AAPL) stock fell nearly 5% after its earnings results disappointed investors, but Intel (INTC) rose 3.6% after earnings. More banks reported earning this morning. Morgan Stanley (MS) shares rose 1.7% after the bank’s earnings impressed investors; US Bancorp (USB) fell 1.3% after earnings. Abbott Labs (ABT) rose 7% after earnings.
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