Markets Right Now: Boeing, Caterpillar weigh on U.S. stocks
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Weak earnings reports from Caterpillar, Boeing and other companies are pulling major U.S. stock indexes lower.
Caterpillar dropped 6% in the first few minutes of trading Wednesday after its profits were weighed down by a cooling energy sector.
Boeing fell 1.4% after reporting a loss of almost $3 billion as it absorbed financial damage from the grounding of its 737 Max airplane.
The S&P 500 index fell 5 points, or 0.2% to 3,000.
The Dow Jones Industrial Average lost 111 points, or 0.4%, to 27,232. The Nasdaq fell 14 points, or 0.2%, to 8,237.
Bond prices rose. The yield on the 10-year Treasury fell to 2.05%.