Stocks tumbled Tuesday after companies including Caterpillar, 3M and Sherwin-Williams said they're seeing higher costs.
Wall Street limped into positive territory on Wednesday on optimism over a spate of upbeat earnings that was almost offset by jitters over rising US bond yields and corporate costs.
Then Caterpillar executives told analysts on a conference call in the late morning that they don't expect the company to report a larger per-share profit for the rest of 2018.
Markets opened higher, but fell significantly after Caterpillar released its profit margins for the first quarter.
Kohli, de Villiers Taking Game Away From Delhi
The team RCB is led by Indian Cricket team captain Virat Kohli and the team Delhi Daredevils is led by Gautam Gambhir . But nothing has gone right for their teams so far and tonight will be a good opportunity to start a winning streak.
Goodyear Tire & Rubber fell 4.9 percent after warning of higher expenses for raw materials. (BA), but the broader market finished (http://www.marketwatch.com/story/stock-selloff-set-to-continue-as-10-year-yield-blows-further-past-3-2018-04-25) the session little changed, as investors wrestled with climbing government bond yields.
Other companies, including Lockheed and 3M, also gave disappointing updates, adding to the sting of rising Treasury yields.
"It's not a mystery why these things are happening", Baumohl said.
Other technology stocks in the FAANG group, Facebook, Amazon.com Inc and Netflix Inc, also weighed on the Nasdaq.
Comcast rose 2.7 percent after the largest USA cable company confirmed its $31 billion bid for Sky on the heels of its better-than-expected earnings report.
The aerospace company topped Wall Street's estimates in the first quarter and raised its forecasts for the year. The stock market had already been spooked by a climb in bond yields earlier in the year, sliding sharply in February.
COMMODITIES: Benchmark U.S. crude oil rose 8 cents to $67.78 in NY.
The S&P 500 index lost 11 points, or 0.4 percent, to 2,623.
"Fears of "peak earnings" are laughable considering that the average constituent in the S&P 500 has enjoyed year-over-year bottom line growth in excess of 20%", Klein wrote in a note.
The 10-year Treasury note's yield exceeded 3% on Wednesday, reaching its highest level since 2013. Meanwhile, the Alphabet stocks fell by more than 4.5%. Exxon Mobil rose 1.5 percent after raising its dividend.
The Nasdaq is down 138.77 points, or 1.9 percent.
The Dow is down 438.81 points, or 1.8 percent. Hong Kong's Hang Seng lost 1.1 percent and South Korea's Kospi lost 0.6 percent.
Shire (SHP) Receives "Hold" Rating from Liberum Capital
Royal Bank of Canada set a $192.00 target price on Shire and gave the stock a "buy" rating in a report on Monday, February 5th. That's a 60 percent premium to Shire's closing price on March 27, before Takeda disclosed its interest in the US drugmaker.
Israel cancels expulsions of African migrants
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Emirates became something of a millstone for Arsene Wenger
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Broncos Shift Focus to Defense with Bradley Chubb Pick
Barring trades, Denver will wrap up its draft with two fourth-round picks and two fifth-round selections Saturday. Now, Sutton could be expected to immediately compete for Denver's third receiver spot behind Thomas and Sanders.
Scientists discover new species of exploding ant
Being a "model species" means that the ant will serve as an important navigation point in future studies on exploding ants. The major workers of the Colobopsis explodens tribe have enlarged heads used to plug nest entrances to keep out invaders.
Explosion at Husky oil refinery in Superior, Wisconsin
Mary's in Duluth. "The Emergency Department will be closing as soon as patients can be transferred to Essentia Health-St". Authorities now say five people have been taken to hospitals after an explosion rocked a large refinery in Wisconsin.
Meghan Markle was meant to be royal: Paula Patton
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DeMarcus Cousins Unlikely To Get Max Contract In Free Agency
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