Tuesday, 24 October 2017

Dow Jones hits another record-breaking run as Caterpillar and 3M climb

Strong results from Caterpillar and 3M helped to drive Wall Street forward in early trade.

The Dow Jones continued its recent record-breaking run, jumping more than 150 points to hit 23,465.99 before slipping back slightly.

Dow component Caterpillar rose 5.1% after the construction equipment maker's third-quarter results came in well ahead of expectations.

It also raised its full-year profit and sales forecasts.

Also boosting the Dow was 3M, the industrial giant whose products include Scotch tape and Post-It notes.
Shares in 3M rose 4.7% after it also reported strong third-quarter results and lifted its profit forecast.

The S&P 500 index rose 2.71 points to 2,567.69, while the Nasdaq index edged up 2.15 points to 6,588.97.

Strong results from McDonald's led to shares in the burger chain rising 0.9%. Cheap offers on drinks and build-your-own-burger deals helped to lift same-store sales at its US restaurants by 4.1%.

BBC      News.