Caterpillar stock powered the Dow Jones industrial average to a 0.6% gain near midday Tuesday while the Nasdaq composite and S&P 500 drew closer to all-time highs.
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Shares of Caterpillar (CAT) added 2.5% to 143 even after Stifel Nicolaus lowered its price target to 168 from 174. Walt Disney (DIS), meanwhile picked up 0.6% to a new high ahead of its earnings report after the close.
In economic news, the IBD/TIPP Economic Index registered its highest reading since June 2004. The Personal Finance component, meanwhile, registered its second-highest reading ever in the nearly 18-year polling history.
The Russell 2000 performed in line with the Dow, up 0.6%; the S&P 500 added 0.3% and the Nasdaq composite picked up 0.2%. Volumes on the NYSE and Nasdaq were tracking about 10% higher than Monday’s levels at the same time of day.
Caterpillar Stock Still Broken
Despite Caterpillar’s outperformance Tuesday, it remains on a technical downtrend. The stock’s 50-day moving average is a potential resistance level to watch.
Elsewhere, earnings winners weren’t hard to find Tuesday.
Leaderboard name Etsy (ETSY) was off session highs but still rose 10.5% to 46.87. Etsy gapped up over a 45.98 flat-base entry as Wall Street cheered another quarter of strong sales growth and bullish sales guidance.
Meanwhile, enterprise software stock Five9 (FIVN) surged out of an eight-week consolidation, rising 22% to 42.66. It gapped up over a 39.65 entry, but it’s a late-stage breakout after an already big price run.
Group peer Twilio (TWLO) surged more than 20% after the company reported an unexpected profit. Sales rose 54% to $147.8 million.
Zebra Technologies (ZBRA) gapped above its 50-day moving average and a 161.82 entry. Shares were up 16% to 164.89. The company makes a range of automatic-identification and data-capture products, including bar code scanners. Adjusted profit jumped 64% to $2.48 a share. Sales increased 13% to just over $1 billion.
In the retail space, IBD Sector Leader Five Below (FIVE) jumped nearly 3% to 103.69. After support at the 50-day moving average, it’s trying to reclaim a 104.09 buy point.
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