U.S. Stocks Flat as Caterpillar Erases Losses

Описание

<p>Stocks opened flat Monday, after Caterpillar reversed declines after the global manufacturer posted higher-than-expected profit.</p> <p>Caterpillar Inc. (CAT.N). the world's largest construction and mining equipment maker, cut its profit and revenue guidance, saying that global economic conditions were weaker than previously expected.</p> <p>And on the international front, the euro edged higher as Spanish Prime Minister Mariano Rajoy was given a boost for his austerity drive with an election victory in his home region on Sunday.</p> <p>The victory there gives the prime minister some breathing space after polls showing him losing support amid massive demonstrations against spending cuts in public services and successive tax hikes.</p>