Crude Oil Moves Lower; Caterpillar Shares Fall Following Q3 Results

by | Oct 29, 2026 | General

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 250 points on Thursday.

The Dow traded down 0.55% to 52,184.82 while the NASDAQ fell 1.62% to 26,118.68. The S&P 500 also fell, dropping, 0.58% to 7,698.73.

Leading and Lagging Sectors

Real estate shares jumped by 1.9% on Thursday.

In trading on Thursday, communication services stocks fell by 7%.

Top Headline

Caterpillar Inc. (NYSE:CAT) stock plunged around 9% Thursday after the heavy equipment maker reported better-than-expected third-quarter 2026 earnings and revenue but warned of higher tariff costs and margin pressure.

The company maintained its full-year sales growth forecast but expects adjusted operating margin near the bottom of its target range.

Caterpillar reported adjusted earnings of $7.20 per share, beating analysts’ consensus estimate of $7.08. Earnings rose 45.5% from $4.95 per share a year earlier. Revenue increased 17.3% year over year to $20.682 billion from $17.638 billion, topping Wall Street’s estimate of $20.545 billion.

Equities Trading UP
           

  • Porch Group Inc (NASDAQ:PRCH) shares shot up 26% to $20.48 after the company reported upbeat quarterly financial results and raised its FY26 sales guidance above estimates.
  • Shares of Teladoc Health Inc (NYSE:TDOC) got a boost, surging 23% to $8.46 after the company reported better-than-expected third-quarter financial results and raised its FY26 GAAP EPS guidance.
  • Crocs Inc (NASDAQ:CROX) shares were also up, gaining 22% to $146.25 after the company reported upbeat third-quarter financial results and raised its FY26 guidance above estimates.

Equities Trading DOWN

  • LiveWire Group Inc (NYSE:LVWR) shares dipped 44% to $0.90 after the company reported third-quarter results.
  • Shares of Xerox Holdings Corp (NASDAQ:XRX) were down 40% to $1.68 following third-quarter results.
  • Iovance Biotherapeutics Inc (NASDAQ:IOVA) was down, falling 31% to $10.14 after the company announced updated results from Cohorts 1 and 2 of its Phase 2 IOV-LUN-202 trial.

Commodities 

In commodity news, oil traded down 0.8% to $101.99 while gold traded down 0.8% at $4,020.50.

Silver traded down 2.9% to $52.125 on Thursday, while copper fell 1.8% to $6.5550.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 1%, while Spain’s IBEX 35 Index fell 0.2%, London’s FTSE 100 gained 0.7%, Germany’s DAX gained 1.5%, while France’s CAC 40 surged 1.3%.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 surging 1.10%, Hong Kong’s Hang Seng index falling 0.59%, China’s SSE Composite Index declining 0.82% and India’s BSE Sensex gaining 1.24%.

Economics

  • U.S. initial jobless claims declined by 1,000 to 194,000 in the week ending Oct. 24, compared to market expectations of 199,000.
  • The U.S. core Personal Consumption Expenditures price index, the Fed’s preferred gauge of underlying inflation, increased 0.3% month-over-month in September, in-line with August’s increase.
  • The U.S. economy grew at an annualized rate of 3.4% in the third quarter, following a 2.2% gain in the second quarter and above market estimates of 3.2%.

Photo via Shutterstock