Caterpillar Stock Set To Add More Than 30 Points To Dow Industrials

The Dow Jones Industrial Average on Tuesday was set to jump at the open, aided by better-than-expected earnings from farm-and-industrial-equipment giant Caterpillar Inc. Caterpillar's shares jumped more than 4% in premarket trade after it delivered earnings of $1.49, outstripping analysts' average estimates of $1.26. The Peoria, Ill.-based company also posted better-than-expected revenue and raised its full-year guidance for 2017 profit and revenue, delivering a fillip to Dow futures. Dow futures were up 69 points, or 0.3% at 21,568, implying a strong, triple-digit open for for the blue-chip gauge. Caterpillar's stock on Monday rallied after it was upgraded by BMO Capital, with analysts Joel Tiss raising his stock price target to $125 from $110. The Caterpillar earnings came amid a barrage of corporate quarterly results, including 3M Co. , whose shares were down 2.3% in premarket action after disappointing Wall Street. Overall, equities were looking to trade in record territory, with futures for the S&P 500 index gaining 0.2%, while those for the Nasdaq-100 were trading flat after Google-parent Alphabet Inc. delivered results late Monday.