NEW YORK, July 21, 2026, 12:06 p.m. ET—The Dow Jones Industrial Average rose 360 points by midday, driven largely by gains in two industrial stocks.
- Normal trading hours continued. The displayed index figures were behind by at least 15 minutes.
- An estimated 77.6% of the prior Dow climb was contributed by two components.
- The Nasdaq rose 1.28%, as Brent crude remained over $91.
The Dow Jones Industrial Average added roughly 360 points on Tuesday, with gains in two industrial shares contributing the bulk of the market’s earlier increase.
At 11:09 a.m., 3M NYSE:MMM and Caterpillar NYSE:CAT together contributed about 222 points, making up 77.6% of the Dow’s 286-point advance at that time.
The index’s makeup is significant since the Dow calculates weights by share price. The impact of a stock is determined by its change in dollar terms rather than by percentage shift.
Caterpillar climbed 2.7%, in comparison to 3M, which jumped 8.7%. The $23.49 increase in its share price contributed about 140 points to the Dow.
| Approximate Dow impact at 11:09 a.m. ET | Stock price change | Dow points (est.) | Portion of 286-point rise |
|---|---|---|---|
| 3M | +$13.88 | +82.4 | 28.8% |
| Caterpillar | +$23.49 | +139.5 | 48.8% |
| Total (3M & Caterpillar) | +$37.37 | +222.0 | 77.6% |
| All other 28 Dow stocks, net | — | +64.0 | 22.4% |
The initial estimate is based on 5.94 Dow points assigned to every $1 change in a component. Slight variances in totals may occur due to rounding.
According to delayed figures, the Dow increased by 0.69% to reach 52,198.94. The S&P 500 advanced 0.78%, closing at 7,501.03. The Nasdaq added 1.28% to finish at 25,833.83.
The Nasdaq climbed nearly double the percentage of the Dow. Technology stocks pushed the S&P 500 up by 1.3%.
The Philadelphia semiconductor index rose 3.7% for a second consecutive session. The index had slipped into bear market territory after the close on Friday.
Micron Technology NASDAQ:MU participated in the rally, with SanDisk NASDAQ:SNDK and Western Digital NASDAQ:WDC also climbing sharply. All three stocks advanced, rising between 7.7% and 10.2%.
3M delivered the most distinct earnings data of the session. Adjusted profit climbed 11% to $2.40 per share. Adjusted organic revenue increased 5.4%, with the margin hitting 24.9%.
The company increased its 2026 adjusted earnings outlook to $8.80-$8.95, up from its prior forecast of $8.50-$8.70.
Chief Executive William Brown described the quarter as “a strong second quarter, exceeding expectations.” The company expects pricing measures to counterbalance an oil-inflation impact estimated between $150 million and $175 million. 3M Company
Art Hogan, chief market strategist at B. Riley Wealth, said: “Investors have to juxtapose strong earnings against the ongoing war with Iran.” Reuters
Alphabet NASDAQ:GOOGL and Intel NASDAQ:INTC are set to announce earnings this week. Their investment strategies could reveal if the chip recovery remains strong.
Market breadth started out positive but limited. On the NYSE, advancing stocks outnumbered declining ones by 1.19 to 1, while on the Nasdaq, advancers led decliners by 1.47 to 1.
Uncertainties persist. Brent crude climbed 2.72% to $91.65. The yield on the 10-year Treasury touched 4.638%, heightening pressure on stock valuations.
For investors, the Dow’s point gain gave a misleading impression of broad blue-chip strength. More convincing signals were seen in 3M’s guidance and the chip-driven rise in the Nasdaq.
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