Business News

Business News

US Stocks snapped a 4 day win streak yesterday after early morning gains gave way to red on Wall Street with stocks closing at session lows.

Shares of Boeing fell 4.5% yesterday despite beating earnings estimates because the company plans to spend more CAPEX in the coming year to spur growth for years to come which will have a negative short-term effect on earnings per share growth.

 Shares of General Motors are higher this morning after the company reported better than expected earnings in the 3rd quarter.  GM earned $1.5 Billion in the quarter.  North America saw big increases in sales for the company, but the company continues to lose money in Europe.  Shares of GM are 2.6% higher in early trading.

Caterpillar posted stronger than expected earnings this morning sending their shares and the DOW higher this morning.  CAT also raised their profit outlook for the next 12 months.  The company has been able to successfully raise prices globally to offset tepid sales in Asia.  Shares of CAT are 4% higher.

And the one part of the economy we are seeing inflation is in housing, including the rental market.  Over the last year shelter costs in the US rose 3% which is the fastest pace since 2008.  Dramatic increases in rents over the last year has been the major contributor to the overall increase.

And weekly jobless claims came in at 283,000 this morning.  Any number under 300,000 will push the employment rate lower.

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