NEW YORK, January 1, 2026, 16:11 ET — Market closed.
- Caterpillar shares last closed down 0.8% at $572.87 in the year’s final session on Dec. 31. Caterpillar Inc.
- U.S. equity markets were shut Thursday for the New Year’s Day holiday after Wall Street ended 2025 lower. Reuters
- Investors are tracking whether AI-driven demand for on-site power generation can keep lifting Caterpillar’s fastest-growing businesses into 2026. The Wall Street Journal+1
Caterpillar (CAT) shares last closed down 0.8% at $572.87 on Dec. 31, and U.S. stock markets were closed Thursday for the New Year’s Day holiday. Caterpillar Inc.+1
The machinery maker is a bellwether — a stock investors use to gauge the broader economy — because its sales tend to rise and fall with construction, mining and energy investment. That role is back in focus as 2026 begins after a volatile year for cyclicals.
What matters now is the split in Caterpillar’s drivers. Traditional demand from construction and mining remains sensitive to interest rates, while a newer tailwind has emerged from power equipment tied to artificial intelligence data centers. Barron’s+1
On Dec. 31, the Dow fell 0.63% and the S&P 500 slid 0.74% in thin holiday trade, Reuters reported, giving Caterpillar little help from the broader tape. Reuters
The Wall Street Journal reported this week that data-center developers are increasingly turning to on-site generation to sidestep grid constraints, lifting demand for large generators and related equipment — a trend that has pulled Caterpillar into the AI infrastructure conversation. The Wall Street Journal
Caterpillar’s latest quarterly results underscore why the market is watching that shift. The company reported that Energy & Transportation sales rose 17% year-on-year to $8.397 billion in the third quarter of 2025, topping its construction and resource industries segments in that period. Caterpillar Inc.
Mizuho analyst Jordan Klein pointed to the scale of the opportunity, writing: “We are not talking small generators you put next to the house.” Barron’s
The Journal also cited Cummins and GE Vernova as other beneficiaries of data-center power spending, highlighting a competitive set that spans engines, turbines and grid equipment. The Wall Street Journal
Caterpillar has been investing to expand supply. It announced a $725 million expansion of its large engine facility in Lafayette, Indiana in October, part of a push to increase engine production. Caterpillar Inc.
Income investors also have a near-term date on the calendar. Caterpillar’s next quarterly dividend is $1.51 a share, with an ex-dividend date of Jan. 20 — the cutoff date after which buyers typically no longer receive the upcoming payment — and a payable date of Feb. 19, according to the company’s dividend history. Caterpillar Inc.
Before next session:
When Wall Street reopens Friday, traders will parse U.S. initial jobless claims at 8:30 a.m. ET and construction spending at 10:00 a.m. ET, both closely watched for signals on labor conditions and building activity that can influence demand for heavy equipment. Federal Reserve Bank of New York
Next week brings more macro read-through for industrial names, including the ISM manufacturing survey on Jan. 5 and the U.S. employment report on Jan. 9, according to official calendars. Federal Reserve Bank of New York+1
Two company-specific waypoints follow quickly: Caterpillar CEO Joseph Creed is scheduled to deliver a keynote at CES on Jan. 7, and investors are also looking ahead to late-January earnings season, with third-party calendars widely pointing to a report around Jan. 29. Market Chameleon+3https://www.caterpillar.com/en.html+3Federal Reserve+3
Technically, Caterpillar enters 2026 about 3% below its Oct. 29 record high near $592, leaving traders watching whether the stock can hold recent gains as the market tests how durable the data-center power narrative proves in orders and margins. MarketWatch+1
