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Dow Jones tops 54,100 as Caterpillar surges and lifts the record

Caterpillar rose about 6% after it beat second-quarter results and raised revenue growth guidance, contributing roughly one-third of the index's more than 900-point gain.

Reported · Written up by our desk · Major Pairs

The Dow Jones Industrial Average traded above 54,100 on Tuesday, extending a four-session run and pushing the index to a record level, according to FXStreet. The move took the Dow about 2,500 points higher, roughly 5% since the July 29 decision.

A key driver of the advance was Caterpillar, which gained about 6% after second-quarter results beat expectations and the company raised its revenue growth guidance. FXStreet attributed Caterpillar's outlook to equipment demand linked to data centre buildouts and said the company's estimate for full-year tariff costs landed at the low end of its prior range.

FXStreet also noted that the composition of the rally mattered because Caterpillar is the largest single-name mover of the session, even though some technology-related companies outside the 30-stock index had their own outsized moves. Palantir rose 27% on second-quarter results tied to sovereign AI demand, while Micron, Marvell, and SpaceX also moved higher in the same session.

Beyond equities, FXStreet said Treasury Secretary remarks about talks with Tehran and a potential reopening of the Strait of Hormuz affected energy markets. It reported crude fell about 4%, with West Texas Intermediate around $76 and Brent around $80 after the comments.

Latest closeWTI crude $80.00 ▼5.5%|Brent $83.63 ▼7.2%|Dow Jones 53,178.41 ▲1.3%

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