Economy | News-Opinion
CLOSING BELL: October 22nd: DJIA: 13,345.89 | UP 2.38 | +0.02%
OIL: $88.73 DOWN 1.32, -1.47%
GOLD: $1,726.30, UP 2.30,+0.13%
GASOLINE: (US Avg): $3.665, DOWN .011
Global shares falter, but U.S. stocks, euro gain
Herbert Lash, Reuters – Global stocks faltered on Monday on weak corporate results and outlooks, while the euro gained after a regional vote in Spain was seen as moving a solution to the euro zone debt crisis one step closer.
U.S. stocks eked out gains in a late-day rally that was helped by a 4 percent gain in Apple Inc, which reports earnings later in the week. The tech heavyweight provided the biggest boost to the benchmark S&P 500 index.
Trading also was influenced by heavy-equipment maker Caterpillar Inc (CAT.N) after it slashed its 2012 forecast and warned that the global economy was slowing more quickly than it had expected.
Caterpillar’s outlook helped oil prices to retreat and put the S&P 500 on track for almost the entire session for a third straight decline after it suffered its worst one-day fall since late June on Friday. But the S&P closed 0.04 percent higher after the surge in Apple.
Read the full story at Reuters [here]
The Common Good publishes a financial market wrap-up every weekday after markets close, available here.
