Oh-Oh -- January 28, 2019

Polar vortex:

What's another trillion or two among (socialist) friends ... when it's other people's money?

 

From CNN:

A slowdown in China is hurting industrial equipment giant Caterpillar — and investors aren't happy.

Caterpillar reported fourth-quarter earnings Monday morning that missed Wall Street's forecasts. The company said sales in its Asia/Pacific unit were down 4% from a year ago, primarily "due to lower demand in China." It was Caterpillar's biggest earnings miss in 10 years, according to research firm Bespoke Investment Group.

Caterpillar issued an earnings outlook for 2019 that was also lower than Wall Street forecasts. 

Shares of Caterpillar fell 5% in premarket trading and the broader market tumbled as well. Futures were already pointing to a loss at the opening bell but they fell further after Caterpillar, which is a Dow component, reported results.

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