US equity contracts were little changed on Wednesday as\ninvestors digested earnings reports from Caterpillar and Boeing.<\/p>\n\n\n\n
The Dow Jones Industrial Average fell only two points, but\nhinted that it might gain about 15 points. Futures on the S&P 500 fell and\nfell slightly while the Nasdaq 100 rose marginally.<\/p>\n\n\n\n
Caterpillar said it earned $2.66 per share in the third\nquarter, against estimates of $2.88 per share. Revenue came at $12.758 billion,\nwhile Wall Street forecast revenue of $13.572 billion. The heavy machinery\nmaker cut its full annual earnings per share to a range of $10.59 and $11.09,\nless than the $11.70 forecast. However, the shares traded 0.5% higher after falling\nmore than 6%.<\/p>\n\n\n\n
Meanwhile, Boeing rose 1.5% after the aircraft maker said it\nwould stick to the 737 Max return schedule. That was enough to make up for\nprofits that badly missed analysts’ expectations. The company reported a profit\nof $1.45 per share. Analysts expect a profit of $2.09 per share.<\/p>\n\n\n\n
Regardless of poor results, Caterpillar is often seen as an\nagent for the chip industry as it fell 8% in after the fourth quarter report\nwas published well under market estimates.<\/p>\n\n\n\n
Texas Instruments losses have pulled down the broader\nchipmaker’s space. The VanEck Vectors Seimconductor ETF (SMH) slipped 1.7%\nbefore closing.<\/p>\n\n\n\n
Ford, Microsoft, and Tesla are among those companies that\nare due to report their latest quarterly figures after the market closes.<\/p>\n\n\n\n
Despite the poor results from Caterpillar, the third-quarter\nearnings season far exceeded analysts’ expectations. Of the 118 and 500\ncompanies reported, 81% reported better than expected results.<\/p>\n\n\n\n
In Europe, lawmakers in the UK voted in favor of Prime\nMinister Boris Johnson’s Brexit plan, but rejected his attempt to speed up\nlegislation to bring the country out by the end of the month. The prime\nminister said the next step would be to wait for the EU to respond to a request\nto postpone the current deadline for Brexit on October 31.<\/p>\n","protected":false},"excerpt":{"rendered":"
US equity contracts were little changed on Wednesday as investors digested earnings reports from Caterpillar and Boeing. The Dow Jones Industrial Average fell only two points, but hinted that it might gain about 15 points. […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,4],"tags":[74,66,79,52,77,20,36,34,145,114,127,29,38,33,91,10,58,57,70,47,86,31,18,80,135,23,46,109,85,115],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1419"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1419"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1419\/revisions"}],"predecessor-version":[{"id":1421,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1419\/revisions\/1421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1420"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}