New York, February 6, 2026, 18:36 EST — After-hours
Caterpillar (CAT.N) jumped 7.1% to $726.20 on Friday, catapulting the Dow past 50,000 for the first time as traders looked outside the tech giants. The stock has climbed roughly 27% this year, on top of its better than 50% rally in 2025. “What’s driven it recently has been the broadening we have seen in the market,” Horizon Investment Services CEO Chuck Carlson told Reuters. 1
Rate expectations have jumped back into focus, just as markets try to shake off losses in tech. Federal Reserve Vice Chair Philip Jefferson called himself “cautiously optimistic” on the 2026 outlook, but he emphasized that future rate decisions will lean on new data. The Fed left its policy rate unchanged last week, sticking to the 3.50%-3.75% range. 2
Traders aren’t catching a break from the latest batch of economic numbers. Early February brought a bump in U.S. consumer sentiment, up to 57.3, but survey respondents are still uneasy about jobs and the potential for higher prices tied to tariffs. “We may have seen the trough … as long as the recent stock market selloff doesn’t continue,” said Oren Klachkin, financial markets economist over at Nationwide. 3
Caterpillar hovered close to $726 in after-hours action, with the stock having hit an earlier peak of $727.36 and slipped as low as $681.36 during the session. Roughly 3.36 million shares changed hands, according to market data.
Deere advanced around 3%. Cummins jumped close to 7%, while United Rentals tacked on roughly 6% as machinery-related stocks shifted higher.
Group President Bob De Lange exercised 20,000 options, then sold off 16,070 shares between $704 and $706, according to a Form 4 insider trading disclosure. After the dust settled, De Lange retained 79,953 shares. 4
Recently, Caterpillar has found itself branded with a fresh tag by investors, thanks to surging demand for data centers and energy equipment. Still, the company flagged potential headaches from tariffs, estimating a $2.6 billion impact on 2026 margins. 5
Still, the rally has narrowed the margin for error. If rate expectations shift, global growth slips, or large orders falter, machinery makers could feel the impact right away.
The stock’s jump played a notable role in shaping the Dow. Since the Dow is price-weighted, a higher share price tips the scale more. Each $1 swing in any Dow stock nudges the average by roughly 6 points. 6
This week, traders are bracing for additional hints from Federal Reserve officials. The central bank’s own calendar flags another scheduled appearance by Jefferson—set for Monday, Feb. 9. 7
Friday brings January’s CPI numbers, landing Feb. 13 at 8:30 a.m. ET—a data drop that could shake up rate cut expectations and, with them, demand for names like Caterpillar. 8
