New York, Feb 9, 2026, 18:40 EST — After-hours
Caterpillar shares finished Monday up 2.2%. After the bell, the stock hovered near $742.12, barely moving. During the session, it bounced between $722.00 and $744.28 while roughly 2.5 million shares were traded.
The Dow closed at 50,135.87, up just 0.04%—enough for another record finish. The S&P 500 rose 0.47%, and the Nasdaq popped 0.90% as tech shares found their footing following last week’s drop. “You’ve a sharply oversold market where a little bit of good news can go a long way,” said Keith Lerner, chief investment officer at Truist Advisory Services, with investors bracing for a packed week of economic releases. 1
Caterpillar’s spot on the Dow matters—especially now. With its hefty price tag, a small swing in the shares can throw extra weight around in the price-weighted index. The stock lands squarely in the middle of the argument over whether growth is still hanging in there.
Two Caterpillar group presidents disclosed fresh option activity in recent Form 4 filings with the U.S. Securities and Exchange Commission. Bob De Lange picked up 28,034 shares through option exercise at $138.35 a piece, then turned around and sold all 28,034 at prices near $720, the filing said. Anthony Fassino, in a separate disclosure, exercised options on 8,288 shares at $196.70 and sold that same amount for roughly $723 each. 2
These filings sometimes land at inconvenient times for traders. Still, they usually reflect the routine process behind equity awards: exercise the shares, sell them, and move along. Rarely do they signal a new take on the company itself.
Investors are eyeing Caterpillar as a possible winner from the latest wave of data-center expansion. CEO Joe Creed, speaking after earnings, said demand for “prime power” systems—heavy-duty generators meant to run all day, every day—is ticking up. Tariff costs, though, are looming. The company flagged a potential $2.6 billion tariff bill in 2026, which could hit margins if neither prices nor sales volumes pick up. 3
According to the company’s latest quarterly filing, dealer retail sales for power generation surged 44% year-on-year in the fourth quarter. Across the globe, combined machines and power and energy sales climbed 15%. Breaking that down: machine sales slipped in Asia/Pacific and in Europe, Africa, the Middle East and Eurasia, but North America and Latin America managed gains. 4
Peers didn’t move in lockstep. Cummins tacked on 4.1% Monday, but Paccar slipped 0.8%. Caterpillar’s advance stood out, though it stayed within the broader industrial range. 5
For CAT holders, it’s not just the next big headline—they’re watching what happens with rates and growth. Should inflation flare up again or hiring stay stubbornly strong, bond yields could surge. That kind of move tends to hit cyclical stocks right out of the gate.
Wednesday brings the January payrolls numbers, while traders are already looking ahead to Friday’s U.S. Consumer Price Index. Sandwiched between those, a packed earnings calendar. Any of these could shift the economic outlook—and move stocks. 6
