Caterpillar Drags Dow J To Lower:

[Kizen]

After a three week rally in the US stock market which lifted Dow J Industrial Average to beat the mark of 12000 high for the first time. Caterpillar Inc JPMorgan Chase & Co the third-largest U.S. bank measured declines among financial shares they said that decline for the dem for mortgages lower fees low interest income led to drop in credit card revenue this provided the biggest disappointment for the current US earning season as the Dow J managed to stay above the 12000 barrier which it breached for the first time on Thursday thanks to the strong third quarter earning the likes of Johnson & Johnson the pharmaceutical health products group soft drinks company Coca-Cola.
But the news of lower-than-expected third-quarter earnings the world’s largest maker of earth-moving equipment said that sales growth for the next year would be flat to 5 % a cut in its guidance for the fourth quarter which dragged the Caterpillar shares 14.2 % lower to $59.20.
Technology shares such as Applied Materials Inc. dropped after semiconductor-equipment orders slowed Intel Corp. the world's largest chipmaker announced that they lowered its spending budget on new plants equipment to a imum of $5.9 billion a forecast of about $6.2 billion.

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