Dow Jones Rises 100 Points; Caterpillar Stock Down on Sales Slump; Walmart Launches Subscription Service; Microsoft Rolls Out Mobile Cloud Gaming
The stock market surged on Tuesday, led higher by rallying tech stocks. The Dow Jones Industrial Average (DJINDICES: ^DJI) had gained 0.45% by 1:30 p.m. EDT.
Shares of Caterpillar (NYSE: CAT) failed to participate in the rally after the industrial giant reported bleak sales results for August. Meanwhile, Walmart (NYSE: WMT) stock headed higher after the retailer officially launched its new membership program, and Microsoft (NASDAQ: MSFT) stock rose after the tech giant rolled out cloud gaming as part of its Xbox Game Pass Ultimate service.
Heavy machinery manufacturer Caterpillar is not seeing much of a sales recovery as the COVID-19 pandemic drags on. The company reported on Tuesday that rolling-three-month retail sales tumbled 20% globally in August, matching July's decline.
Source Fool.com
