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.

Public Domain image courtesy NASA: http://www.everystockphoto.com/photo.php?imageId=2025495&searchId=5f295bce38d311f26a96eb811192f391&npos=12The 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.

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