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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

Tale of Two Cities

Tale of Two Cities

Caterpillar (CAT) is a great example of the conflicting information that has economists and market players heading in two different directions. On the one hand, CAT reports earnings last week and blows away estimates as the positive news propels the large equipment manufacturer to new recent highs. That is the good. Several days later though, the company announces it will be permanently trimming 2500 laid-off workers. That is the bad. What might be good for stocks (weak dollar, easy comparisons, etc) may still be bad for the economy. Stocks are rising in the face of a jobless recovery, so the gains we are seeing may or may not translate to a stronger economy at home. Don't confuse brains for a weak dollar and how significant a weak dollar can be for short term earnings at the large, multi-nationals. That may also explain why stocks of US only companies cannot get any head way. To make significant gains from here, the US economy needs to come back to life, and we haven't seen it yet.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.