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Caterpillar Inc. (NYSE:CAT) stock news and links


Hold on to your hats, folks

Senate Republicans balked at bailing out the Big Three automakers, so for now the rescue package is dead. Asian markets were cratering last time I looked.

Cat may be the least punished of the Dow 30 by the time the smoke clears — after all, the huge stimulus packages in the U.S. and China should prove a kindness, whereas nobody knows where the demand for all of GM and Chrysler’s gas guzzlers is coming from.

Of course GM’s been pummeled so badly that it might not be able to fall far enough to push the Dow too much, and now and again huge international sell-offs trigger rallies by the time Wall Street wakes up. My hunch is it won’t be one of those days.

Latest from:

Wall Street Journal.

New York Times.

Detroit Free Press | Detroit News

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Tom Mangan posted at 11:23 pm December 11th, 2008 |

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