U.S. futures edge higher as Caterpillar ups view

Date: Tuesday, July 21, 2009

U.S. futures edge higher as Caterpillar ups view

U.S. stock futures edged higher Tuesday after recent gains, with the
market digesting a host of key earnings reports and Federal Reserve
Chairman Ben Bernanke's message that the central bank will move to
curtain inflation -- but only when the economy is moving quickly
enough to warrant tighter policy.

BULLS GAIN UPPER HAND AS VIX DIPS UNDER 25

The stock market's widely followed fear index has dropped 22% over the
past eight trading sessions, suggesting investors are regaining a
taste for risk and that July's surprising rally may have more room to
run.

CATERPILLAR UPS 2009 VIEW AFTER NET DROPS 66%

Caterpillar Inc. on Tuesday reported a 66% drop in second-quarter
earnings as cost-cutting efforts couldn't make up for plunging demand
from the heavy equipment manufacturer's construction markets.

UNITED TECHNOLOGIES QUARTERLY PROFIT FALLS 23%

United Technologies on Tuesday said its second-quarter profit fell 23%
due to the slump in commercial construction and aerospace markets.

DUPONT'S QUARTERLY NET DROPS 61% AS VOLUMES SLUMP

Blue-chip component DuPont posts a 61% drop in second-quarter net
income on declining demand for chemicals and other materials used in
construction, auto production and consumer goods. Management stands by
its forecast for 2009 profit.