Caterpillar included in the DJSI
A press release from Caterpillar (CAT) on September 14 said that the company was included in the 2018 DJSI (Dow Jones Sustainability Index)—the company’s 19th appearance in the index. The DJSI considers economic, climate change mitigation, environment, social performance, good labor practices, and other parameters.
Jim Umpleby, Caterpillar’s CEO said, “Caterpillar provides the solutions our customers use to build a better world. A better world includes sustainable practices and products. As a core value, we are focused on embedding sustainability into the design, manufacture and delivery of everything we do. We’re proud of the progress we’ve made, and we continually strive to improve.”
Caterpillar was included in the DJSI due to:
- Caterpillar is committed to communities across the globe and focuses on poverty alleviation.
- The company displays innovation in researching and developing new and improved products.
- Caterpillar has good environmental management practices.
Caterpillar’s stock price update
Caterpillar had a strong week with its stock prices gaining ~2.5%. The stock closed at $144.90 for the week ending September 14. The gain in the stock price helped Caterpillar in the trend reversal of its 100-day moving average price. Caterpillar trades 0.5% above the 100-day moving average price of $144.15. On a year-to-date basis, the stock has fallen ~7.75%.
Deere (DE), 3M (MMM), and Stanley Black & Decker (SWK) have declined 5.6%, 11.7%, and 12.6%, respectively. Analysts have recommended a target price of $166.5, which implies a return potential of 14.9% over the closing price on September 14. Caterpillar has a 14-day relative strength index of 61, which indicates that the stock isn’t overbought or oversold.
Investors could invest in Caterpillar indirectly through the Industrial Select Sector SPDR Fund (XLI). XLI has invested 3.6% of its portfolio in Caterpillar as of September 14.
Lehman Brothers collapsed a decade ago. Global markets have recouped their losses and equity markets have risen above their 2007–2008 highs.
Hibbett Sports (HIBB) stock surged 22.3% as of 1:54 PM ET today as the company reported impressive results for fiscal 2019's fourth quarter, which ended on February 2.
Wall Street analysts expect a potential upside of 21.63% for Alexion Pharmaceuticals based on the stock's closing price on March 21.
Today, we got another round of dismal data points from Europe (VGK)(EZU). According to a Markit survey, Germany’s (EWG) March PMI Composite Output Index fell to a 69-month low of 51.5.
On March 21, US crude oil’s implied volatility was 24.9%, which was 6.7% below its 15-day average. Usually, lower implied volatility supports oil prices.
The overall cannabis sector took a hit today amid the broader market's declines. The volatility index (VIX) jumped 17.9%, and the cannabis sector is more sensitive than the market.
The tech-heavy NASDAQ Composite Index (QQQ) is on track to post its 12th weekly gain in 13 weeks.