Strong earnings from Caterpillar drive Dow higher - WAOW - Newsline 9, Wausau News, Weather, Sports

Strong earnings from Caterpillar drive Dow higher

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NEW YORK (AP) -- Caterpillar is driving the Dow Jones industrial average higher after the company reported strong earnings.

The world's largest maker of mining and construction equipment rose 3 percent Friday after its earnings increased more than five-fold. The company also raised its sales and profit forecast for the year.

The Dow is up 68 points, or 0.5 percent, to 12,831 in midday trading. Caterpillar accounted for 22 points of those gains.

The S&P 500 is up 2 points, or 0.2 percent, at 1,361. The Nasdaq composite is down 2, or 0.1 percent, at 2,870.

Goodyear Tire & Rubber is up 15 percent, the most of any company in the Standard & Poor's 500 index, after it set a sales record and reversed its loss from the first quarter of last year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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