Shares of Caterpillar Inc.
fell 1.4% in morning trade Wednesday, and were the biggest drag on the Dow Jones Industrial Average
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%.