Caterpillar's stock the biggest drag on the Dow after May retail sales data


Shares of Caterpillar Inc.

CAT, -1.61%

fell 1.4% in morning trade Wednesday, and were the biggest drag on the Dow Jones Industrial Average

DJIA, +0.10%

after the heavy machinery maker reported retail sales data. The stock’s price decline of $2.26 was shaving about 16 points off the Dow’s price, which was up 15 points. Caterpillar disclosed earlier that total machines retail sales for the 3-month rolling period ending May 2018 rose 24%, after rising 28% in the April period. In resource industries, sales growth decelerated to 35% in the May period from 57% in April, while construction industries sales slowed to 22% growth from 23%. For energy and transportation retail sales, growth slowed to 5% from 14%.

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