: Caterpillar’s stock selloff shaves nearly 100 points off the Dow’s price

If it wasn’t for the selloff in Caterpillar Inc.’s stock CAT, after the construction equipment maker reported third-quarter results, the Dow Jones Industrial Average DJIA would be headed for a nice gain at Tuesday’s open. Caterpillar’s stock sank 5.9% toward a 4 1/2-month low in the premarket. The implied price decline would cut 96 points off the Dow’s price, while Dow futures YM00 were down 3 points, or less than 0.1%. Caterpillar’s stock has already dropped 11.3% in October through Monday, so Tuesday’s decline puts it on track to suffer the biggest monthly drop since it sank 17.2% in June 2022.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post : Cathie Wood’s Ark Invest backs AI business Shield AI with a $2.7B valuation
Next post : Pfizer swings to wider-than-expected loss but keeps full-year outlook intact