Today’s close: up 2.10%
Caterpillar gapped up a couple percentage points at the open and took a long winter’s nap the rest of the day, drifting downward to close a bit off its high for the day. Full quote at Yahoo Finance.
Financials led the broader markets higher as traders convinced themselves the bad news is all priced in. Dow, up, 2.46%; Nasdaq, up 3.55%; S&P500, up 3.36%. Wrap-up at Market Watch.
Cat’s volume was back to normal at 12.9 million shares. Two small up days in a row feel like a playoff win after what we’ve been through. I’m skeptical of any bull run led by the financials, which got is into this mess and will not get us out, but there’s good cheer in the tech stocks outperforming. That’s at least a semblance of normalcy.