NEW YORK (AP) — A four-day streak of record closes ended for the Standard & Poor’s 500 index Wednesday after Caterpillar reported weak earnings and falling oil prices hurt energy stocks. Caterpillar, which makes mining and construction equipment, is considered an important barometer of the global economy. The plunge in Caterpillar’s third-quarter profit discouraged investors and stalled a two-week surge in the stock market.
The S&P 500 had surged 6 percent over the previous two weeks, capped by a record close of 1,754.67 on Tuesday. The index climbed as lawmakers inched toward a deal to end a 16-day partial government shutdown and avert a potential U.S. default.