Stocks are trading mostly flat this morning as investors digest more earnings. Caterpillar reported earnings that beat expectations, although revenue fell short. The construction equipment maker also cut its full year guidance. Caterpillar was trading lower in pre market, but has managed to turn positive this morning and is currently up about 1%. Yahoo and Texas Instruments are two companies investors will be watching closely today as they post their earnings after the market close.
In Europe, rumors continue to circulate on when exactly Spain will ask for a bailout. The country’s prime minister clinched election victory in his home region, which many see as a hurdle towards Spain requesting a bailout.
The major stock averages are trading mostly flat this morning with the Dow down 8 points, the Nasdaq up 4 points and the S&P 500 up 1 point. [Read more...]