Caterpillar slump highlights risks to the rallyMarch 20, 2013: 1:29 PM ET
Caterpillar reported a sharp drop in sales to its worldwide network of dealers Wednesday, sparking a sell-off in its stock and raising worries of a global slowdown for the construction industry.
In fact, Caterpillar was the only Dow component in the red for much of the day.
Caterpillar's move, along with bad news from Federal Express (FDX, prompted traders on StockTwits to raise questions about cracks in the economy.
Surely not a good sign when two economic bellwethers are lower at the open $CAT $FDX
when $CAT is weak you should be very cautious on the overall market
Investors will have to wait until April 22 for Caterpillar's first-quarter results, but the initial signs aren't very positive.
what's up with copper $JJC, is China really in this bad a shape, $CAT results are gonna be ugly
Not sure I'd go so far as to say China is in bad shape. China set a GDP growth target of 7.5% for the year. That's the same target it had last year, when GDP rose 7.8%.
But good point on copper. Prices have been rising, which could signal some overheating in the property market. Still, it may be too soon to start calling a hard landing.
To view my watchlist
Not a member yet?Sign up now for a free account
|Colorado's missing marijuana taxes|
|How celebrities' nude photos get leaked|
|Uber faces ban in Germany|
|Yahoo's Marissa Mayer about to get $10 billion|
|fast-food worker strike|
- Cantor lands sweet $3.4 million bank gig(01:05)
- What will Yahoo do with Alibaba cash?(01:33)
- Amazon. Facebook. Now Google drones?(01:06)
- I ain't afraid of no stocks!(01:28)
- Dollar General in love with Family Dollar?(01:05)
- EA investors mad for Madden(01:27)
- The other ISIS(01:30)
- Radio Shack needs nerds(01:09)