Shares of manufacturing and transportation companies rose after strong earnings from two bellwether manufacturers. Caterpillar shares surged to record highs after the maker of construction and mining machinery posted earnings far in excess of Wall Street targets and said it expects continued strength in North American energy and Chinese construction markets. Shares of 3M rallied after the industrial conglomerate said a shift in focus to newer technologies bolstered quarterly profit. A 3M executive said investments in business lines associated with semiconductors, data centers, automotive electrification and energy grids had paid off.
-Rob Curran, email@example.com
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(END) Dow Jones Newswires
October 24, 2017 16:48 ET (20:48 GMT)