Stock Alert: Caterpillar Down 6%
Shares of Caterpillar Inc. (CAT) are losing more than 6 percent or $11.14 in Wednesday’s morning trade at $156.55 despite no company-specific news.
U.S. stocks are rising on Wednesday amid signs that the U.S. elections will not result in a “blue wave” that sees the Democrats reclaiming both the White House and the Senate. Votes are still being counted in a number of key swing states, but traders seem optimistic that Democrats will not take control of the Senate and roll back key tax cuts.
Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines.
Caterpillar has traded in a range of $87.50 to $171.26 in the past 52 weeks.
CANADA STOCKS-TSX opens higher as U.S. election race tightens
Nov 4 (Reuters) – Canada’s main stock index opened higher on Wednesday, tracking Wall Street as results from the U.S. presidential election proved far closer than polls had predicted.
* At 9:33 a.m. ET (1433 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 92.69 points, or 0.58%, at 16,031.84.
European Economics Preview: Eurozone Final PMI Data Due
Final Purchasing Managers’ survey results from euro area and other major European economies are due on Wednesday, headlining a light day for the European economic news.
At 3.00 am ET, Spain’s unemployment data is due for October. The number of registered unemployed decreased by 26,329 or 0.69 percent in September.
At 3.15 am ET, IHS Markit is slated to issue Spain services PMI data. The services index is seen falling to 40.0 in October from 42.4 in September.
At 3.45 am ET, Italy’s services PMI data is due. Economists forecast the services PMI to drop to 47.0 in October from 48.8 a month ago.
Thereafter, final PMI survey results are due from France and Germany at 3.50 am and 3.55 am ET, respectively.
At 4.00 am ET, Eurozone final PMI survey data is due. According to flash estimate, the composite output index fell to a four-month low of 49.4 in October from 50.4 in September.
Half an hour later, IHS Markit releases UK final CIPS composite PMI data. The final reading is seen at 52.9 in October, unchanged from flash estimate.
At 5.00 am ET, Eurozone producer price figures are due. Economists forecast the producer prices to fall 2.4 percent on year in September, following a 2.5 percent decrease in August.
How Long Will the Counting Drag On in New York?
While the presidential race in the state was called on election night, more heavily contested races may take a while longer.
By Dana Rubinstein and Luis Ferré-Sadurní
Wall St stocks open higher as markets eye tight US presidential vote
NEW YORK (AFP) – Wall Street stocks opened solidly higher on Wednesday (Nov 4) as markets monitored evolving vote counts in a handful of US states that will determine the next president.
About five minutes into trading, the Dow Jones Industrial Average stood at 27,739.04, up 0.9 per cent.
The broad-based S&P 500 gained 1.6 per cent to 3,424.28, while the tech-rich Nasdaq Composite Index jumped 2.9 per cent to 11,483.41.
Gamblers Outside the U.S. Take Presidential Odds on a Wild Ride
Betting on the election is not legal in the United States. But elsewhere, the odds swung wildly between President Trump and Joe Biden as bettors tried to stay a step ahead of prognosticators.
By Victor Mather
Pennsylvania governor says 'partisan attack' launched on state's election
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Pennsylvania Gov. Tom Wolf, a Democrat, tweeted early Wednesday that a “partisan attack" had been launched on Pennsylvania’s elections.
Wolf's tweet came after Trump tweeted that the election is being stolen from him.
Wolf cautioned that the state still has to count more than 1 million mail ballots in the state. “I promised Pennsylvanians that we would count every vote and that’s what we’re going to do,” he said.
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“Let’s be clear: This is a partisan attack on Pennsylvania’s elections, our votes, and democracy,” Wolf tweeted. “Our counties are working tirelessly to process votes as quickly AND as accurately as possible. Pennsylvania will have a fair election and we will count every vote.”
As of Wednesday at 4 a.m. ET, Trump leads former Vice President Joe Biden by a little more than 675,000 votes in the state he narrowly flipped in 2016.
Democrat Torres Small Ousted in New Mexico House Race
Republican Yvette Herrell defeated incumbent Democratic Representative Xochitl Torres Small in New Mexico’s 2nd Congressional District, the Associated Press projects.
The two also faced off in 2018, when Torres Small narrowly beat Herrell for the district, which spans from the Mexican border to areas just south of Albuquerque.
Exhausted and Anxious, Voters Find the Country More Divided Than Ever
“The great wedge in America just got bigger last night,” said one.
By Audra D. S. Burch and Campbell Robertson