US stocks extend losses premarket amid earnings

Wednesday, 23. October 2019 12:45

Stocks in the United States extended losses in premarket trading on Wednesday as investors focused on corporate earnings, as well as the latest US-China trade developments. Chinese Premier Li Keqiang stated the cooperation between the two countries can "create mutual benefit." On the earnings front, Caterpillar missed estimates on both revenue and EPS and lowered its 2019 outlook. Boeing is also set to report before the bell, while companies posting results after today's session ends include Microsoft, Tesla and PayPal.

The Dow Jones declined 0.16% at 6:42 am ET with Caterpillar plunging 4.8% at 6:43 am ET. The Nasdaq 100 fell 0.34% at 6:43 am ET and the S&P 500 was down 0.13% at the same time.

The euro lost 0.10% against the dollar to sell for 1.11134 at 6:46 am ET, while the pound traded flat compared to the greenback, going for 1.28753 at the same time.

Related Links: Caterpillar Inc.
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Breaking the News / NP