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Caterpillar outperformed a lackluster industrial sector and kept pace with last year's strong market. While falling modestly in the next two sessions, Caterpillar rose 23.4% in 2023. Club name Caterpillar was last year's ninth-best performer of the 30 stocks that make up the Dow Jones Industrials Average , which gained 13.7% in 2023. The onslaught on federal spending was a prime reason the Club first initiated a position in Caterpillar back in January 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Dow Jones, it's, Jim Cramer, Jim Umpleby, Umpleby, Joe Biden's, Caterpillar's financials, Jim Cramer's, Jim, Drake Nickels, Smith Organizations: Caterpillar, Dow, CAT, Big Tech, Federal, Dealers, U.S, Joe Biden's Infrastructure Investment, Jobs, Law, Management, CNBC, CAL, Marine Corps, West, Marine Corps Base Locations: Camp Pendleton , California
CNBC Daily Open: Let’s talk about the Dow
  + stars: | 2023-07-24 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +5 min
Michael M. Santiago | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. For the second half, the bank thinks GDP will grow 1.3%, compared with 0.6%. "India and China combined will make up 2 million barrels a day of demand pick-up in the second half of this year," he said. The bottom lineLet's talk about the Dow Jones Industrial Average and why it did better than the S&P 500 and the Nasdaq Composite last week.
Persons: Michael M, Tesla, Wood, Morgan Stanley, Joe Biden's, Ellen Zentner, Joseph McMonigle, McMonigle, Sarah Min, Dow, Goldman Sachs, Gamble Organizations: New York Stock Exchange, Santiago, Getty, CNBC, Nasdaq, KE Holdings, Joe Biden's Infrastructure Investment, Jobs, International Energy, Federal Reserve, Dow Jones Industrial, JPMorgan Chase, Apple, Microsoft, Nike, Procter, Nvidia, UnitedHealth, Dow Locations: New York City, China, U.S, India
As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. Morgan Stanley's revision came at a pivotal time for the Biden White House. "Together we are transforming the country, not just through jobs, not just through manufacturing, but also by rebuilding our infrastructure," Biden said Thursday during a visit to a Philadelphia shipyard. The White House has dubbed this brick-and-mortar economic growth formula "Bidenomics," a phrase originally used by Republicans to jab the president, who co-opted the term as a badge of honor. "This report confirms what we've long said: Our strong and resilient economy is Bidenomics in action," White House assistant press secretary Mike Kikukawa said in an email to CNBC.
Persons: Joe Biden, Jill Biden, WASHINGTON — Morgan Stanley, Joe Biden's, Ellen Zentner, Morgan Stanley, That's, Zentner, Morgan Stanley's, Biden, Kevin McCarthy, Mike Kikukawa Organizations: Marine, WASHINGTON, Biden's Infrastructure Investment, Jobs, Biden White House, Philadelphia shipyard, CNBC, America Economic Survey, Republicans, House Locations: Washington , DC, U.S, Philadelphia, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWolfe: Infrastructure stocks will see an uptick in volume in the coming monthsTimna Tanners, Managing Director in Metals & Mining Equity Research at Wolfe Research, discusses which companies will benefit from Biden's infrastructure investments.
Persons: Timna Tanners Organizations: Wolfe, Metals & Mining Equity Research, Wolfe Research
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