Dow jumps as Caterpillar earnings lift stocks and AI worries curb Nasdaq
Updated
Updated · CNBC · Apr 29
Dow jumps as Caterpillar earnings lift stocks and AI worries curb Nasdaq
9 articles · Updated · CNBC · Apr 29
The Dow gained 730 points, or 1.5%, while the S&P 500 rose 0.5% and the Nasdaq edged up 0.2%; Caterpillar climbed 10%, but Meta and Microsoft fell 9% and 5%.
Caterpillar beat quarterly estimates and raised its revenue outlook, offsetting disappointment over first-quarter US GDP growth of 2%, below the 2.2% forecast, while Meta's user growth and spending guidance unsettled investors.
Despite tech pressure, the main indexes remained on track for strong April gains after the Fed held rates at 3.5%-3.75%, while oil prices fell as markets weighed US-Iran tensions.
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