Despite an improvement over Friday’s doom and gloom sentiment, global stocks are not seeing positive follow through today other than less volatility in the market.
The Emerging Money Global EM Index (EMEGI) is -0.35% as of midday after Fridays -2.3% move.
Every member of the 30 stock index is down in 2014, and a handful of core global multinationals that make up the index are down over 10% YTD.
General Motors (GM, quote), General Electric (GE, quote) and Yum! Brands (YUM, quote) are examples of how devastating the start to the year has been.
Today, the Index is getting a big lift from Caterpillar (CAT, quote, +4.6%) who announced strong earnings and gave an outlook for 2014 that overcame slowdown fears. CAT is a 1.8% weighting in the index.
