CMI - Caterpillar Stock: Why I'm Not Constructive Going Into Earnings

Summary

• Given the real chance of a recession, companies and governments are likely starting to curtail spending on new investments in infrastructure.
• A recent survey found that nearly all CEOs are expecting some sort of recession in 2023.
• Such bearishness is a negative for Caterpillar, which is reliant on infrastructure spending to drive sales for its products.
• However, there are some positive indicators that suggest Caterpillar's prospects may actually improve in the second half of the year.

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