Caterpillar Inc. (NYSE:CAT)’s not amid its golden days as the global economy experiences a slump and prices for commodities continue to fall. The company’s CEO, Doug Oberhelman, spoke on CNBC his thoughts on the current state of affairs. So, US is doing a great job in keeping a steady level of progress, although relatively weak, but much better than South-East Asia and Australia. As of falling prices for gold and coal, he said that current numbers are quite high compared to previous periods in time, so Caterpillar Inc. (NYSE:CAT) should get back on its feet relatively soon.
“The US is actually inching along pretty well and I would say inching along is a good word. We put out our retails statistics a couple of weeks ago. They continue to show up a very gradual improvement. We can see that kind of across the country,” said Doug Oberhelman.
Caterpillar Inc. (NYSE:CAT)’s a global leader in providing machinery used to extract precious materials from underneath Earth’s surface. It’s hit hard by the news of cheapening commodities and it can be seen through the drop of almost 10% for the last month. Caterpillar Inc. (NYSE:CAT)’s trading at about $97.75 and seems to be on a tiny rebound as the markets opened. In general it can do little to overturn the current situation as the whole world is in expectation of better days.
“The world right now if fairly fragile and I think a lot of that is driven by this just unpredictable and almost incredible advance,” added Doug Oberhelman.
There’s more than one factor to drive the economy and innovation across the globe, so when a multiple of these forces gather momentum and collide we can see some cracks appearing in the system. However, these should mend with time as people and companies steadily adapt to the changes and as soon everything’s going well, Caterpillar Inc. (NYSE:CAT) will show some bumps on the price graph.
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.