U.S. stocks are mostly up today as industrial equipment giant Caterpillar (NYSE: CAT) produced better than expected results for the quarter. The company said profits for the quarter increased five folds and also raised its full-year outlook. According to the Wall Street Journal, first quarter results thus far have seen the largest corporations in the U.S. are up 26 percent year-over-year and are projected to produce a quarterly record of $22.05 a share.
Full year earnings are also on pace to reach a record $94.80 a share, according to Standard & Poor's. But as hot as stocks have been in April, major indices are now nearing key resistance levels. The Dow Jones Industrial Average is less than 200 points away from 13,000, and analysts anticipate more pressure on bulls as it gets closer. Commodity prices are still rising fast as bears clamor for a bubble watch. Oil prices also continue to rise, trading around $113 a barrel.
Major U.S. Stock Indices
DJIA: 12,824.50 (+0.48 percent)
S&P 500: 1,363.35 (+0.21 percent)
Nasdaq: 2,872.93 (+0.01 percent)
Russell 2000: 865.97 (+0.51 percent)
In other news:
- The devastation in the U.S. southern states caused the tornado is the worse since 1974, and have claimed the lives of at least 300 people. [NY Times]
- Big Oil: Less supply, more demand equals profits! [LA Times]
- Research in Motion (NASDAQ: RIMM) is moving, just in the wrong direction. The company has been unable to fend off competitors like Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG).
- So apparently Facebook does have a ceiling. [NY Post]
- Over 2 billion people watched the Royal Wedding. OK ... [Daily Mail]
Check back as more news develops.
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