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Home / Business / Dow skids and sticks fall hard when yields disappoint, Caterpillar stumbles

Dow skids and sticks fall hard when yields disappoint, Caterpillar stumbles



Here are four key things to know about stocks

  • The Dow Jones Industrial Average fell on Tuesday for a fifth session. If the index closes lower, he would mark his longest such streak since March 2017.
  • Leading latecomers on the Dow were 3M Co., Caterpillar and Travelers Cos.
  • The Nasdaq has been on its fourth day, its longest losing streak since 1965.
  • More than 80% of S & P 500 companies that reported first quarterly results so far outperformed.

Wall Street Overview

Stocks were significantly lower on Tuesday, April 24, than Caterpillar Inc. (CAT) earnings disappointed investors, despite higher materials prices this year on materials costs Estimates lies.

The Dow Jones Industrial Average fell 448 points. or 1

.83% to 24,000, the S & P 500 fell 1.22%, and the Nasdaq fell 1.6%.

Market sentiment was clouded by developments in the bond market, where US Treasury yields reached 3% on Tuesday for the first time since January 2014.

" The 10-year tap over 3 % is a symbolically important milestone, but it's not that surprising, "said Mike Loewendart, vice president of E * Trade Investment Strategy. " The (Federal Reserve) was nothing short of transparent, telegraphing its interest rates while systematically reducing its balance sheet weight, that does not mean that there will not be some tricky moments, but now it seems like that Economy keeps upright and is healthy enough to be able to take a few punches. "

Caterpillar fell 6% after Chief Financial Officer Bradley Halverson said the company expects" steel will be headwind year round "

Google parent Alphabet Inc. (GOOGL) fell 4.7% on Tuesday, after the search giant slightly outperformed first-quarter earnings and earnings expectations, but concerns over rising costs dampened positive investor sentiment.

Eric Jhonsa of TheStreet found that sharing payments made by Google to OEMs, carriers and mobile publishers remained a real headwind. For the second quarter in a row, TAC accounted for 24% of Google's ad revenue compared to 22% last year. Johnna also said that increased hardware / service costs would raise eyebrows.

Alphabet is a stake in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be warned before Cramer buys or sells the stock? Learn more now.

3M Co. (MMM) beat analysts' expectations at the top and hit them in the first quarter with earnings of $ 2.50 per share on revenues of $ 8.3 billion. But the stock fueled 8.4%.

Coca-Cola Co. (KO) shares fell 1.7% after the beverage giant announced gains and sales in the first quarter that outperformed Wall Street forecasts.

Verizon Communications Inc. (VZ) First quarter earnings estimates were exceeded on Tuesday. According to Justice Department reports, it was investigated whether the company and other telecommunications companies are developing technology standards that would allow them to block some devices. Verizon shares rose 2%.

United Technologies Inc. (UTX) outperformed analysts' first-quarter expectations, lifted the full year 2018 revenue and earnings outlook, and generated strong sales in Pratt & Whitney and UTC Aerospace. The share lost 0.5%.

Eli Lilly & Co. (LLY) reported adjusted earnings of $ 1.34 per share for the first quarter, higher than estimates of $ 1.13. The company has also increased its outlook for the 2018 earnings. The share lost 0.5%.

The Lockheed Martin Corp. (LMT) lost 6% despite outperforming Wall Street estimates for the first quarter and raising its full-year forecast.

3M and Eli Lilly are invested in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be warned before Cramer buys or sells the stocks? Learn more now.

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