Dow Jones falls almost 425 points; Caterpillar reports earnings plateau

Stock Market News For Apr 26, 2018

Market favorites including Alphabet and Amazon dropped Tuesday, and heavy equipment maker Caterpillar sank 6.2 percent after warning of weaker profits. The stock dropped 5.6 percent to $145.38. It was down as much as 619 earlier. The S&P 500 closed at 2,639.40 for a gain of 4.84 points or 0.18%. The Nasdaq Composite gained 2.64 points, or 0.04 per cent, to 7,009.99 at the opening bell.

The Wall Street Journal also reported the U.S. Department of Justice has opened a criminal investigation into Chinese tech company Huawei Technologies Co [HWT.UL] over U.S. sanctions on Iran, potentially adding to tensions with Beijing.

After sinking by 300 points initially, the Dow Jones index clawed back those losses to break a five-day losing streak.

Mining company Freeport-McMoRan plunged 16 percent. "Google also beat on earnings and revenue, but the stock was down 5% on increased spending".

ENERGY: Benchmark U.S. crude oil shed 1.3 percent to $67.78 a barrel in NY.

Sectors posting the biggest losses included technology (2 percent), materials (2.69 percent) and industrial (2.82 percent) stocks.

EU Urges Russia, Iran, Turkey To Press For Pause In Syria Conflict
Around 80 countries, organizations, and partners are attending the donor conference in Brussels . European Union foreign policy chief Federica Mogherini , right, and U.N.

Canada's main stock index fell on Tuesday as lower oil prices weighed on energy shares, while investors anxious about the prospect of higher global borrowing costs after the benchmark US 10-year Treasury note yield hit 3 per cent for the first time in four years.

Facebook, Twitter, AT&T and Boeing report quarterly earnings.

The Dow rose 59 points, or 0.4 percent, to 24,083.

The Nasdaq is up 103.96 points, or 1.5 percent.

The 10-year Treasury note's yield exceeded 3% on Wednesday, reaching its highest level since 2013.

The rising yield reflects higher expectations for inflation and economic growth.

Verdict expected in submarine death of Swedish journalist
The case has gripped Denmark ever since Wall failed to return from a trip on Madsen's self-built Nautilus submarine on 10 August. He then claimed she had died of exhaust fume poisoning inside the vessel while he was outside on its deck.

USA stocks slid Tuesday amid disappointing first-quarter earnings reports from industrial giants like Caterpillar and 3M, and from tech companies like Alphabet, the parent company of Google. "How would the roughly half of S&P 500 stocks that depend on overseas sales?"

3M, which makes Post-it notes and industrial coatings and ceramics, shed 8.6 percent to $197.35 after cutting its annual forecast. The Nasdaq increased 11 points, or 0.2 percent, to 7,139.

The first time since 2014, 10-year Treasury yields hit three percent.

Verizon, Harley-Davidson and Fifth Third Bancorp all rose sharply in early trading Tuesday after reporting results that came in ahead of analysts' forecasts.

INDUSTRIAL WEAKNESS: Caterpillar had a strong first quarter, but company executives told analysts on a conference call in the late morning that the company doesn't expect to report a larger per-share profit for the rest of the year.

Drugmaker Shire rose 3.3 percent after saying it had received another takeover offer from Japanese rival Takeda. The S&P/Case-Shiller index rose a seasonally adjusted 0.5% and was up 6.3% compared with a year ago in February.

BMW Concept iX3 EV gets official in China
The expansion of the iX3 range is in line with company strategy to develop emission-free vehicles and promoted driverless cars. In the BMW Concept iX3 , the next, highly integrated development stage of this technology delivers all-electric mobility.

The Dow Jones industrial average climbed 71 points, or 0.3 percent, to 24,523.

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