CORPORATE earnings, including Caterpillar’s, drove Wall Street higher yesterday. However, pared gains late in the session after reports that a New York City hospital was running Ebola tests on a healthcare worker who had treated infected patients in West Africa.
The Dow Jones industrial average rose 216.58 points, or 1.32 per cent, to 16,677.9, the S&P 500 gained 23.71 points, or 1.23 per cent, to 1,950.82 and the Nasdaq Composite added 69.95 points, or 1.6 per cent, to 4,452.79.
Caterpillar said that some belt tightening had helped it contend with a slowing global economy. Its stock rose five per cent, to $99.27.
Post-it note maker 3M, was among other companies that gained after releasing impressive third-quarter results. It gained 4.4 per cent, to $145.05.