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Caterpillar Just Gave a Huge Vote of Confidence to the Global Economy

Joe Deaux
Caterpillar Just Gave a Huge Vote of Confidence to the Global Economy

Caterpillar Inc. began the day euphorically, with shares rallying as the machinery giant beat earnings estimates and raised its own forecast. In its earnings statement, the biggest maker of construction and mining equipment lifted its 2018 profit projection by as much as 24 percent and flagged continued strength for North America construction and Chinese infrastructure. Shares, which had gained as much as 4.6 percent, dropped as much as 5.8 percent.