Thursday, May 20, 2010

Caterpillar's dealer stats might be a reason for the market sell-off (CAT)

Every time the market sells off the headlines simply revert to "Eurozone, Economy Woes," but that doesn't offer much detail.


I'd offer that a main reason for the DJIA's sharp drop today is the dreadful April dealer stats released by Caterpillar.  Worldwide, dealer retail deliveries are down 4% for the month of April.  Might not sound terrible, but that is one third of the quarter ending June, in which Wall Street expects sales to be up 22%....



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