SCOREBOARD: Locking profit

Stocks take a hit from Caterpillar's earnings scare but recover and Spain's elections provided some support for Europe.

Not the most exciting session, I’ll be honest. The offer was put on stocks early and stayed with the market throughout – although US stocks have just managed to lift into the close. Moreover while moves were to the downside were solid, there was no major catalyst, or new flare of up. I get the impression most investors are just biding their time, waiting for some signal to either take stocks higher or no. Or maybe with the US election about two weeks away, people are just waiting for that. They’ve had a good run after all. In the interim, some are locking in profit.

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