Caterpillar (CAT) Sees Strong Upcoming Selling Season in China; Says Miners Still Cautious

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Caterpillar (NYSE: CAT) are higher on the session amid comments issued by Caterpillar's Director of Investor Relations Mike DeWalt at the Morgan Stanley Industrials and Autos Conference today.

DeWalt said that the long-term mining business is "favorable" for Caterpillar, though miners are currently being cautious. Construction is still "fairly depressed" with housing starts still poor despite some improvement.

On China, DeWalt sees an improved upcoming selling season.

Looking ahead, DeWalt cited strong cost-controls by Caterpillar in reaffirming margin performance expectations.

Shares are up over 3 percent Friday.

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