Why Caterpillar Stock Is Jumping Today
(NYSE: CAT), one of the 30 Dow stocks, zoomed this morning and was up a solid 7.4% as of 11 a.m. ET.
Caterpillar is often considered a bellwether of the economy given its leadership in the heavy machinery, construction, and mining industries. So when a bellwether reports blowout numbers amid fears of a global slowdown, the markets are bound to react positively.
Here are the key numbers from Caterpillar's second-quarter earnings report that was released this first day of August:
Source Fool.com
Caterpillar Inc. Stock
€303.50
-0.160%
We see a rather positive sentiment for Caterpillar Inc. with 13 Buy predictions and 2 Sell predictions.
As a result the target price of 314 € shows a slightly positive potential of 3.46% compared to the current price of 303.5 € for Caterpillar Inc..
