Fat Lady Singing "As Good As It Gets"
The irony of the day comes from headline news on Caterpillar, 3M, and Coke.
Bloomberg boasts Caterpillar Just Gave a Huge Vote of Confidence to the Global Economy.
This is what the stock market thinks.
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MMM Worst Day in Nine Years
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Beat the Street
Strong beat rates so far for both bottom and top line growth@bespokeinvest pic.twitter.com/SxzAoszPpI
— Liz Ann Sonders (@LizAnnSonders) April 24, 2018
Market Dives on "Votes of Confidence"
"As good as it gets" likely applies to technology, housing, and cars as well.
One Word: Sell.
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It was an interesting day on the market in that the market punished good stocks with decent earnings growth more than the bad ones that need correcting.