Caterpillar Soars as Investors Hunt For Hedges Against Inflation
- Shares on pace for biggest 5-day jump since June 2020
- Jefferies upgrades on need for capacity expansion amid war
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Caterpillar Inc. shares are headed toward the biggest five-day gain since the pandemic as investors looking for a hedge against inflation flock to the mining- and construction-equipment maker.
The company’s stock climbed as much as 6.5% on Tuesday, bringing its 5-day jump to more than 14%. If the gains hold through the close, it would be the largest such move since June 2020. The S&P 500 Index, meanwhile, has fallen 3.1% in the past five sessions.