Shares of industrial giants 3M (NYSE: MMM), (NYSE: CAT), and Deere Company (NYSE: DE) were rallying hard on Friday, up 8.5%, 8.2%, and 5.2%, respectively, as of 3 p.m. ET.

Friday's news was particularly good for 3M but also for industrial stocks in general. Today, 3M jumped on a Bloomberg News report that it may settle a massive pollution lawsuit for less than was feared by the markets.

While the lower-than-feared settlement news might have lowered perceived risk for peers, the other industrial stocks were likely higher due to today's better-than-expected jobs report, allaying fears over a potential economic downturn.

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Source Fool.com