Caterpillar Climbs on New Optimism for Global Economic Prospects
- Largest machinery producer heads for biggest gain since April
- Economic data supports CFO comment in July demand was strong
Employees inspect excavator components at the Caterpillar manufacturing facility in Victoria, Texas.
Photographer: Callaghan O'Hare/BloombergThis article is for subscribers only.
Caterpillar Inc. headed for the biggest gain since April as trade tensions eased, improving the sales outlook for the world’s largest maker of construction and mining equipment. Metal producers also rallied.
The U.S. and China announced face-to-face negotiations will be held in the coming weeks aimed at ending a tariff war, while U.S. private payrolls and services sector data tamped down concerns of an approaching recession. Nearly half of the Deerfield, Illinois-based company’s sales are in North America.