Dow Climbs Over 150, Caterpillar Leads Way

The Dow Jones Industrial Average climbed over 150 points to start Tuesday’s market session as construction and mining equipment manufacturer Caterpillar led the way, gaining 2.5%.

Despite facing challenges related to the tariff battle between the United States and China, Caterpillar increased its adjusted earnings per share forecast to a range of $11 to $12 from $10.25 to $11.25–adjusted profit range of $6.6 billion to $7.2 billion. The company also bested analyst expectations over a week ago with its record second-quarter earnings per share and revenue.

Industrial ETFs rose on Caterpillar’s gain, such as Fidelity MSCI Industrials ETF (NYSEArca: FIDU)–up 0.66%, Vanguard Industrials ETF (NYSEArca: VIS)–up 0.71% and Industrial Select Sector SPDR ETF (NYSEArca: XLI)–up 0.74%.

Related: The Challenges Ahead for Industrial ETFs

Other indexes started up on the day as the Nasdaq Composite was up 0.26% and the S&P 500 gained 0.40%. Through the close of Monday’s trading session, the S&P 500 was just 0.8 percent away from reaching an all-time high of 2,872.87, which was established on Jan. 26. Additionally, the Nasdaq was also within 1 percent of a record high and the Dow was over 4.2 percent away from reaching its own all-time high.