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Latest Business News: Caterpillar Tugs Dow Lower; Apple Jumps

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Latest Business News: Caterpillar Tugs Dow Lower; Apple Jumps

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Latest Business News: Caterpillar Tugs Dow Lower; Apple Jumps

Wochit 0:46 mins

Apple led an early rise in technology stocks after it beat analysts' estimates for quarterly earnings and revenue. But a warning of slowing sales from Caterpillar, the world's largest construction equipment company, helped tug broad-market indexes down. Sales of new U.S. single-family homes vaulted to a five-year high in June, showing little signs of slowing in the face of higher mortgage rates. Apple shares opened about 5 percent higher after the technology company's third-quarter profit beat analysts' expectations due to stellar sales of its iPhones.