Dow Jones Today: Caterpillar Sparks 700-Point Rally as Wall Street Shrugs Off Oil Shock
The Dow Jones Industrial Average surged roughly 700 points Thursday, with Caterpillar out front as investors picked up industrials and defensive names. Big Tech wobbled after a busy stretch of earnings updates. By 11:54 a.m. ET, the Dow was showing a 686.88-point gain, or 1.41%, at 49,548.69. Later readings brought the rally close to that 700-point mark. The Dow’s outperformance is drawing attention right as Wall Street faces a tricky stretch: investors are weighing strong April gains against stubbornly high oil prices, Middle East war worries, and a Fed with scant room to ease. “There’s a big tug of war,” said Angelo Kourkafas, senior global investment strategist at Edward Jones. “But the earnings side is winning so far.”