Stock futures predicted flat opening with investors focused on surging oil prices and concerns about corporate profits and consumer spending. In earnings news, heavy equipment maker Caterpillar Inc. reported a 48% increase in Q1 profit, beating expectations due to strong sales to mining and energy companies. Novartis reported Q1 net income rise of 32% to $1.96 billion on 13% revenue growth. Watsco also exceeded expectations, posting Q1 net income rise to 47 cents a share on 14% revenue growth. |
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