S&P 500 Index Sees Biggest Decline in Three Months as Fed Official Criticizes Stimulus Measures
The Paragon Report Provides Stock Research on Caterpillar and Deere & Company
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/27/12 -- The S&P 500 Index has risen roughly 15 percent year-to-date on a string of better-than-estimated earnings. The index on Tuesday experienced its biggest slide in three months after comments made by a Fed official criticized the effectiveness of recent stimulus measures. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on Caterpillar Inc. (NYSE: CAT) and Deere & Company (NYSE: DE).
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"We are unlikely to see much benefit to growth or to employment from further asset purchases," Plosser said in a speech today at the district bank in Philadelphia. "Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed's credibility," stated Federal Reserve Bank of Philadelphia President Charles Plosser.
The S&P Index had declined for three consecutive days prior as Chancellor Angela Merkel and President Francois Hollande failed to agree on a time table for introduction of stimulus measures to the region's banking sector, and German consumer confidence unexpectedly fell in September.
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With 2011 sales and revenues of $60.138 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Shares of the company fell sharply Tuesday after lowering its outlook through 2015. Caterpillar expects 2015 sales and revenues to be in a range of $80 to $100 billion.
Deere & Company provides products and services primarily for agriculture and forestry worldwide. The company's Board of Directors declared a regular quarterly dividend of $.46 a share on common stock, payable November 1, 2012, to stockholders of record on September 28, 2012.
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Datum: 27.09.2012 - 12:20 Uhr
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