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Wall Street opens sharply lower, the Dow fell 300 points

2019-01-28 03:19 pm | Resource: NEWS | No Views : 177

 US stock markets started trading on Monday low despite an agreement that ended the longest closing of the US government in history.

Which included the bipartisan spending that would extend government funding for another three weeks that would not include additional funds for a border wall demanded by US President Donald Trump.

However, Acting Chief of Staff Mick Mulvani said Trump was ready to close another if his demands were not met, while the president himself expressed doubts about his willingness to accept funding less than $ 5.7 billion for the Mexican border fence.

At the same time, Caterpillar and NVIDIA reported their weaker-than-expected quarterly earnings earlier in the day, which blamed sales for China.

Caterpillar announces revenues of $ 14.4 billion in the fourth quarter, up 11% annually

US construction company Caterpillar said Monday its fourth-quarter revenue for the fiscal year 2018 was $ 14.4 billion, up 11% from the same period last year. The company said earnings per share were $ 1.78, up 182% yoy.

The full-year results showed revenue increased 20% in 2018 compared to the previous year, reaching $ 54.7 billion while earnings per share during the year were $ 10.26, a huge increase of 714% over 2017.

"Our vision assumes a modest increase in sales based on the fundamentals of our diverse markets as well as the macroeconomic and geopolitical environment." We will continue to focus on operational excellence, including cost discipline, as we invest in extended offers and services to drive prices, "said Jim Umpleby, Long.
  • Caterpillar expects the profit to rise to $ 11.75 to $ 12.75 in 2019.

After corporate results, Caterpillar shares fell 3.72% in pre-market trading on Wall Street, with some figures, including adjusted earnings, losing investors' expectations.

US Stocks Open
  • The Dow Jones Industrial Average lost more than 300 points, or 1.26% at the beginning of the session, affected by Caterpillar and Apple
  •  The Nasdaq 100 fell 1.43%, with NVIDIA declining more than 17%.
  • At the same time, the S & P 500 was trading 0.98% in the red zone at the opening bell, with Nvidia and Caterpillar the worst performer.

The EUR / USD was little changed, selling at 1.1410 at 9:32 am ET.

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