Stock Market Update
30-Apr-26 12:05 ET
Industrials sector outperforms after earnings
Dow +723.01
at 49584.82,
Nasdaq +25.18
at 24698.42,
S&P +33.23
at 7169.18
[BRIEFING.COM] The S&P 500 (+0.5%), Nasdaq Composite (+0.1%), and DJIA (+1.5%) are little changed from previous levels at midday.
The industrials sector (2.5%) is now the top-performing S&P 500 sector amid strong post-earnings performances from several of its components.
The sector's largest component, Caterpillar (b891.16, +81.10, +10.01%), is among that group, with the stock launching higher as both EPS and revenue handily beat expectations on a sharp 22% increase in sales and revenues to $17.4 billion and adjusted EPS of $5.54, helped by strong execution and resilient demand.
Construction Industries was the standout segment, with sales up 38% and profit up 50% as higher volume, favorable pricing, and especially a build in dealer inventories drove the jump, while Power Energy also posted 22% sales growth on strength in power generation, oil and gas, and industrial applications.
Elsewhere in the sector, Quanta Services (PWR 707.04, +78.44, +12.48%) trades even higher after topping its own earnings estimates.
