Dow Jones Industrial Average rises 45 points

Wall Street takes Caterpillar and Boeing misses in stride

Both Caterpillar and Boeing reported quarterly numbers that badly missed analyst expectations. Caterpillar said dealers reducing inventories hurt its results, noting that “global economic uncertainty” from trade tension could make this weakness persist. Boeing, meanwhile, reported a profit drop of more than 50% on a year-over year basis for the quarter. However, Caterpillar shares rose 1.23% while Boeing traded higher for most of the day. Wednesday’s moves took place under surprisingly low volume. The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, saw volume well below its 30-day volume average.

Texas Instruments drops, drags down other chipmakers

What happens next?

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