Caterpillar Jumps: Friday's Action
Light trading before the Labor Day weekend said the tape.Crude oil and gasoline prices continued to drop midday as traders anticipated refineries in the Gulf of Mexico coming back on line and shipments of unleaded gas from Europe.
As CNBC said this morining, it has been sectors, rather than the broader market, seeing the real moves.
Caterpillar, which we told our readers to buy yesterday, is up 3%.
Job numbers came out today -- nothing spectacular.
I think they'll have to be revised post-Katrina.
On another note, billionaire Kirk Kerkorian's camp said he'll raise his stake in GM (no analyst coverage), whose stock price has gravitated higher ever since they began disclosing their pension problems.
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