Squashed Caterpillar points way for mining

Thursday, 24 October 2019

And it ain’t up. Via Zero Hedge:

Once upon a time Caterpillar was considered the bellwether stock for the industrial sector. If that’s still the case, then the world is on the verge of a recession as moments ago CAT reported dismal Q3 earnings while slashing its profit outlook, blaming deteriorating global growth.

CAT reported than in Q3 it earned:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.