Why Caterpillar Stock Is Sinking Today
Portfolio Pulse from Ryan Gustafson
Caterpillar, Inc. (NYSE:CAT) shares are trading lower due to rising Treasury yields and weak Q3 financial results from J.B. Hunt Transport Services (NASDAQ:JBHT). The rise in 30-year yields over 5% following President Joe Biden's announcement of a support package for Israel and the weak earnings report from J.B. Hunt have negatively impacted the industrial sector.
October 18, 2023 | 7:21 pm
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NEGATIVE IMPACT
Caterpillar shares are trading lower due to rising Treasury yields and weak Q3 results from J.B. Hunt.
The rise in Treasury yields and weak Q3 results from J.B. Hunt have negatively impacted Caterpillar's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
J.B. Hunt's weak Q3 results have negatively impacted its own and Caterpillar's stock prices.
The weak Q3 results from J.B. Hunt have negatively impacted its own and Caterpillar's stock prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100