Global indicators were mostly positive for North American stock markets Thursday, as investors waited to hear testimony from Federal Reserve Chairman Ben Bernanke.

In today’s economic news, Statistics Canada reported that factory shipments bounced back in November mainly because of a strong showing in the transportation equipment sector.

Separately, the government agency reported that foreign investment in Canadian securities surged by $11 billion in November, mostly going to bonds. Meanwhile, Canadians added $5.3 billion worth of foreign securities to their investment portfolios over the month, with nearly three-quarters going to foreign stocks.

The Canadian dollar opened at US85.03¢, down 0.21 of a cent.

South of the border, U.S. consumer prices rose 0.5% in December in line with forecasts due to higher energy prices, but the gain was muted when volatile energy and food sectors were excluded. Meanwhile, U.S. housing starts unexpectedly climbed.

Later this morning, Fed chief Bernanke.is due to testify before the U.S. Senate Budget Committee.

In earnings news, Merrill Lynch said quarterly net income jumped 68% to US$2.35 billion on a 27% rise in revenue. The company increased its dividend by 40%.

Continental Airlines posted a narrower quarterly loss amid strong demand for seats. Revenue increased 11%.

After markets closed Wednesday, Apple reported its earnings surged 78% on record iPod sales, which helped push up revenue 24%. Mac sales rose 28% from a year ago.

Oil prices fell Thursday on expectations of higher inventories in the U.S. Light sweet crude for February delivery lost 33¢ to US$51.91 a barrel in electronic trading on the New York Mercantile Exchange.

European indexes rose in early action, while Asian markets advanced.

Tokyo’s benchmark Nikkei 225 index rose 109.58 points, or 0.63%, to close at 17,370.93.

In Hong Kong, the blue-chip Hang Seng Index rose 212.94 points, or 1.1%, to close at 20,277.51.

Toronto stocks closed slightly higher on Wednesday as a rebound in oil and metal prices boosted resource shares.

The S&P/TSX composite index gained 10.09 points, or 0.08%, to close at 12,730.41.

The junior S&P/TSX Venture composite index slipped 9.48 points, or 0.33%, to finish at 2,855.75.

In New York, investors sold U.S. technology shares after disappointing financial results from bellwether Intel Corp.

The Dow Jones industrial average slipped 5.44 points, or 0.04%, to end at 12,577.15. The S&P 500 Index dipped 1.28 points, or 0.09%, to close at 1,430.62. The Nasdaq composite index fell 18.36 points, or 0.74%, to finish at 2,479.42.