Declines in US Stock Market Moderate 1/27/14
NEW YORK — Declines in the U.S. stock market are moderating following a rout last week.
Industrial stocks were among the few winners after heavy-equipment maker Caterpillar reported a surge in earnings for the fourth quarter.
Caterpillar jumped 4 percent, the most in the Dow, after reporting income and revenue that were far ahead of what investors anticipated. Caterpillar forecast higher earnings for 2014 than analysts were expecting and announced a new $10 billion stock buyback program.
Asian markets slumped, and European markets were lower.