Thursday, February 27, 2014

Caterpillar and Joy Global, Set for a Better Year?

It would be an understatement to say that mining had a difficult year in 2013, and it was even worse for the mining equipment suppliers like Joy Global (NYSE: JOY  ) and Caterpillar (NYSE: CAT  ) . However, investing is about what happens next, and the case for buying into the sector is based on the hope that mining companies' capital expenditure plans will improve in 2014. So, what do Foolish investors need to know before warming to the idea?

Mining capital equipment sales
The market took heart from Caterpillar's recent results, and this should be taken as a marker that the sector can go higher given any signs of a bottoming out in spending plans in the mining sector's spending plans.