Dow Jones Slumps Despite Apple's Blockbuster Earnings; Caterpillar Stock Sinks on Weak Demand
Strong earnings from big tech companies, including Apple (NASDAQ: AAPL), failed to propel the Dow Jones Industrial Average (DJINDICES: ^DJI) higher on Friday. The Dow was down around 0.75% at 2:20 p.m. EDT.
Apple was one of the few gainers in the Dow on Friday, surging after the company reported sales that were far ahead of expectations. Heavy machinery manufacturer Caterpillar (NYSE: CAT) also beat estimates, but a steep revenue and profit decline sent the stock sharply lower.
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Source Fool.com
