Markets Poised for Weak Open Amid Soft Earnings, EU Concerns (CAT) (MSFT) (PG)
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- Sherwin-Williams (SHW) Stock Falls on Q3, FY20 Warning
- Brent dips after topping $80 a barrel, highest since Oct 2018
- Ford (F) Stock Soars on $11.4 Billion EV Partnership with Battery Maker SK Innovation (SKOVF)
Markets are poised to open lower Tuesday following disappointing results from Microsoft (NASDAQ: MSFT) and United Technologies (NYSE: UTX) in tech, Caterpillar (NYSE: CAT) in manufacturing, and Procter & Gamble (NYSE: PG) in staples.
In many cases, weakness was tied to the strength of the U.S. dollar. Caterpillar pointed to slow global growth and weakness in commodity prices.
Caterpillar Chairman and Chief Executive Officer Doug Oberhelman said, "We expect world economic growth to only improve modestly in 2015. The relatively slow growth in the world economy and continued weakness in commodity prices—particularly oil, copper, coal and iron ore—are expected to be negative for our sales."
Investors are also nervous about the situation in Europe after Alexis Tsipras of the anti-austerity party was sworn in as Greek's new prime minister.
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