Bloomberg News

U.S. Stocks Decline as Caterpillar’s Drop Overshadows AMD Gain

July 22, 2011

July 22 (Bloomberg) -- U.S. stocks fell, trimming the Standard & Poor’s 500 Index’s weekly gain, as Caterpillar Inc.’s lower-than-estimated profit offset a rally in technology shares and optimism that Europe’s debt crisis will be contained.

The S&P 500 slumped 0.3 percent to 1,339.74 at 10:03 a.m. in New York, paring its advance since July 15 to 1.8 percent. Caterpillar retreated 6.3 percent. Technology companies in the index climbed 0.4 percent, the most among 10 industries, as Advanced Micro Devices Inc. rallied 13 percent after forecasting third-quarter sales that topped analysts’ projections.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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