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Norway's Finance Minister Jens Stoltenberg said on Tuesday he hopes the country's $2 trillion sovereign wealth fund, the world's largest, can maintain its current investment policy in which about half the assets are invested in the U.S.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Caterpillar (CAT 0.68%) isn't your typical growth stock. Rather, it's a 100-year-old company best known for vehicles with claws and grousers, like bulldozers, mining trucks, and crawlers.
After a sleepy 2024, industrial stocks have been on a tear this year. The Industrial Select Sector SPDR exchange-traded fund (ETF) is up over 15%.
The U.S. State Department told CNBC on Thursday that it was "very troubled" by Norway's $2 trillion wealth fund selling its stake in New York-listed Caterpillar. Fund management said last week that the sovereign wealth fund would exit Caterpillar and several Israeli banks over concerns about ties to the conflict in the Gaza Strip.
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It seems that the current round of tariffs enacted by the current presidential administration is going to wound Caterpillar (CAT -3.65%) more than previously expected. On a new, not very encouraging revision of the impact of the levies on the industrial company's business, investors traded out of the stock on Friday.
There was likely a bit of profit-taking ahead of a historically weak September.
Caterpillar lifts its 2025 tariff impact forecast to $1.8B, while expecting margins near the bottom of its target range.
U.S. equities were lower at midday, as inflation rose and investors pulled money out of the market ahead of the long Labor Day holiday. The Dow Jones Industrial Average, S&P 500, and Nasdaq all fell.