PEORIA, Illinois- Caterpillar's stock was down more than $4 a share Monday morning, October 22. The stock started the new trading week down $4.47.
The company releases its corporate earnings report Tuesday, October 23. Monday though during our Your Money segment, we asked Investment Advisor Mark Grywacheski about what investors are going to be looking for Tuesday. Caterpillar has been facing rising inflation, interest rate hikes, and U.S. tariffs on imported steel and aluminum that have been increasing its operating costs.
"Foreign tariffs decrease demand for their American made products," Grywacheski simply said Monday.
As of 10:45 a.m. Monday, Caterpillar's stock was down another $0.86. Deere and Company's stock was down $0.64. Arconic's stock was down $0.56 a share. Gywacheski also discussed the latest jobs' numbers from the Department of Labor and how it signals a strong economy moving forward.
Your Money With Mark airs live on Good Morning Quad Cities every Monday between 5 a.m. and 5:30 a.m. To live stream our newscast from our website, click here.