Technology stocks may open higher Thursday getting a boost from solid earnings from Hewlett-Packard.

In this morning’s economic news, U.S. housing starts surged 14.5% during January as warm weather helped stoke groundbreakings, and building permits increased.

Meanwhile, U.S. import prices rose 1.3% last month as petroleum import prices climbed.

Here at home, Statistics Canada said volatility in the manufacturing sector continued in December. Candian manufacturers stepped up production with gains in the petroleum products and auto parts industries, although shipments essentially bounced back from a weak November.

Oil prices rose in early trading following a steep fall just one day earlier.

Light, sweet crude for March delivery increased 72¢ to US$58.37 a barrel on the New York Mercantile Exchange. The benchmark contract had tumbled by almost US$2 a barrel on Wednesday after an OPEC warning of weakening energy demand and U.S. government confirmation that domestic supplies of oil and gasoline were rising.

The Canadian dollar opened trading up 0.04 of a cent at US86.37¢.

Hewlett-Packard said late Wednesday fiscal first-quarter profit rose 30%. Rival computer maker Dell reports its earnings after the close Thursday.

Applied Materials said late Wednesday fiscal first-quarter profit fell 51%, hurt by stock-option expenses and other charges, while sales and orders at the world’s largest chip-equipment maker rose more than expected.

In the automotive sector, DaimlerChrysler reported an 84% rise in fourth-quarter profit, led by Chrysler and its financial-services division.

ING Canada’s fourth-quarter profit jumped 13.7% to $196.9 million from $173.1 million last year on higher revenues.

European indexes rose in Thursday afternoon trading and most Asian markets advanced as investors reacted positively to falling oil prices and the U.S. Federal Reserve chairman’s testimony.

Tokyo’s Nikkei 225 index gained 110.84 points to finish at 16,043.67.

In Hong Kong, the Hang Seng Index jumped 27.62 points to end at 15,450.88.

Toronto stocks declined Wednesday, despite a positive day in most sectors, as falling resource prices weighed down the broader market.

The S&P/TSX composite index fell 59.14 points, or 0.51%, to 11,557.25.

The S&P/TSX Venture composite index finished down 21.48 points, or 0.87%, to 2,437.12.

In New York, lower energy prices and the new Fed Reserve chairman Ben Bernanke’s first address to Congress boosted markets.

The Dow Jones industrial average moved up 30.58 points at 11,058.97, the Nasdaq Composite Index closed up 14.26 points at 2,276.43, and the S&P 500 gained 4.47 points to 1,280.00.