Stocks jump; Dow up 200 pts on Caterpillar outlook

U.S. stocks surged on Thursday after heavy-equipment maker Caterpillar boosted its full-year profit outlook and an unexpected increase in euro-zone manufacturing eased worries about the global economy.

Thursday’s economic reports had the four-week average of Americans filing for jobless benefits dropping to a 14-year low.

The Conference Board’s index of leading indicators for September is expected at 10 a.m. Eastern.

DJIA Dow Jones Industrial Average 16653.40 192.08 1.17%
S&P 500 S&P 500 Index 1945.60 18.49 0.96%
NASDAQ Nasdaq Composite Index 4425.50 42.65 0.97%

The Dow Jones Industrial Average rose 208.65 points, or 1.2 percent, to 16,669.97.

The S&P 500 advanced 20.28 points, or 1.1 percent, to 1,947.39, with industrials leading gains among its 10 main sectors.

The Nasdaq rallied 42.29 points, or 1 percent, to 4,425.13.

Brendan McDermid | Reuters Trader on the floor of the New York Stock Exchange.

Brendan McDermid | Reuters
Trader on the floor of the New York Stock Exchange.

The 10-year Treasury note yield, used in determining rates on mortgages and other consumer loans, jumped 4 basis points to 2.257 percent.

The U.S. dollar edged lower against the currencies of major U.S. trading partners and dollar-denominated commodities were mixed.

On the New York Mercantile Exchange, gold futures fell $10.50, or 0.9 percent, to $1,235.20 an ounce, and crude-oil futures for December rose 86 cents, or 1.1 percent, to $81.38 a barrel.

On Wednesday, U.S. stocks turned lower, following the S&P 500’s biggest jump in a year, as investors considered the fatal shooting of a soldier in Ottawa, reports of gunfire in the halls of Canada’s Parliament and oil falling to a more-than two-year low.

Read More Stocks end sharply lower; oil, Canadian shooting cited

Coming Up This Week:


10:00 a.m.: Leading indicators


Earnings: Bristol-Myers Squibb, Colgate-Palmolive, Ford, UPS, Procter and Gamble, Nasdaq, Delphi Automotive, State Street, Ericsson, Shire

10:00 a.m.: New home sales

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