U.S. Stocks Flat as Caterpillar Erases Losses

U.S. Stocks Flat as Caterpillar Erases Losses

pStocks opened flat Monday, after Caterpillar reversed declines after the global manufacturer posted higher-than-expected profit.pbr pCaterpillar Inc. (CAT.N). the world's largest construction and mining equipment maker, cut its profit and revenue guidance, saying that global economic conditions were weaker than previously expected.pbr pAnd on the international front, the euro edged higher as Spanish Prime Minister Mariano Rajoy was given a boost for his austerity drive with an election victory in his home region on Sunday.pbr pThe victory there gives the prime minister some breathing space after polls showing him losing support amid massive demonstrations against spending cuts in public services and successive tax hikes.


User: IBTimes

Views: 9

Uploaded: 2012-10-22

Duration: 01:19

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