While you were sleeping: Caterpillar drops

Thu, 24 Sep 2015

By Margreet Dietz Sept. 25 (BusinessDesk) - Wall Street dropped ahead of a speech by US Federal Reserve Chair Janet Yellen, while shares of Caterpillar sank after the company downgraded its full-year earnings forecast and announced plans to cut jobs. Yellen is set to speak after the market close, a week after the central bank kept its target interest rate steady amid concern about the global economy. Currently traders are pricing in about a 40 percent chance of an increase in December, down from 49 percent as recently as Monday, and a...

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