|Page (1) of 1 - 07/22/11||email article||print page|
Stocks mostly slide as mixed corporate earnings overshadow a breakthrough on European debt
A big earnings miss from Caterpillar is overshadowing a rescue package for Greece that sent stocks higher overseas.
Caterpillar earned less than analysts expected last quarter. The heavy machinery maker said it expects the U.S. economy to only grow moderately for the rest of the year. Many investors look to Caterpillar as an indicator of the global economy because the company sells construction equipment all over the world.
The impasse over raising the U.S. borrowing limit continued to weigh on markets.
Stock indexes are mixed in midday trading Friday. The Dow Jones industrial average is down 33 points, or 0.3 percent, to 12,692. The S&P 500 is down 1, or less than 0.1 percent, to 1,343. The Nasdaq composite is up 10, or 0.3 percent, to 2,844.