While many stocks sit near 52 week highs and others sit near all time highs, some stocks have been crushed and trade near 52 week lows. Two of those stocks are Deere & Company (NYSE:DE) and Caterpillar Inc. (NYSE:CAT). Both had bottoming tails yesterday and are trading at 2013 lows. Note the stats below. ...
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While the markets have been chopping in a sideways pattern over the last few weeks, stocks like Caterpillar Inc. (NYSE:CAT) and Deere & Company (NYSE:DE) have been taking a hit. Just today, CAT has dropped to $82.51, -2.82 (-3.30%). ...
This morning, most of the leading stocks in the Dow Jones Industrial Average (DJIA) are trading higher. Traders must remember that the DJIA is a price cap weighted index unlike the S&P 500 Index and NASDAQ Composite which are market cap weighted indexes. When a price cap weighted index trades higher it will usually signal that the high priced stocks in that indexes are trading higher.
Stocks are jumping for the second day in a row. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $138.42, +1.52 (+1.11%). This strong move up is coming prior to major economic and earnings news in the next 24 hours.
The markets are taking a beating today on the back of major worries out of Greece and the rest of the European Union. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $134.64, -2.11 (-1.54%). This is the biggest drop in the markets in almost three months.
The markets are seeing some selling on worries stemming from China and Europe. China lowered its growth rate to 7.5%. This is bearish for the entire globe as most advanced economies rely on China. In addition, European issues have started to bubble up again. Things with Greece are getting messy and Spain has said they will not meet the spending cuts required by the bailout of 2011.
Caterpillar Inc (NYSE:CAT) is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Caterpillar Inc achieved its new 52 week high price of $116.95 where it was opened at $116.29 down -0.20 points or -0.17% by closing at $116.00.
The markets are seeing red today with the SPDR S&P 500 ETF (NYSEARCA:SPY) trading at $135.86, -0.60 (-0.44%). After Greece received its second bailout over the holiday weekend, the markets have started to show major cracks. Interestingly enough, this is happening just as the retail investor is jumping back into the market. This is setting up for a sell off and pivot top of 2012.
Joy Global Inc (NYSE:JOY) is a leading manufacturer of mining and farming equipment. The stock has been selling off over the past two trading sessions. This morning, JOY stock is declining lower by $2.00 to $90.70 a share. When a market leader such as JOY stock declines it could be telling us that the mining business is beginning to slow down.
