>> Wall Street's old dogs, taking the stock market to new heights Tuesday. Caterpillar, 3M, and General Motors all hitting record highs after reporting strong earnings. The Dow Jones components pushing the index closer to its biggest one day rise in more than a month. US vehicle sales so far define predictions of a significant slump with last month's sales hitting the fastest pace in 12 years.
Reuters Autos Industry Editor Joe White explains.>> General Motors results today really reinforced with a lot of people who have been positive on the stock, have been thinking that this is a company that is able to prosper even when the market is not as strong as it was before.
Today is sort of heavy metal Tuesday on Wall Street, right. You've got Caterpillar, General Motors, Fiat Chrysler and a couple of other big industrial companies all reporting really strong results. And what's good for a company like General Motors is also good for a supplier like 3M. People are buying stuff.
The companies that make the stuff are getting a lift. And on top of that, a lot of these companies, certainly industrial companies, have been under enormous pressure from Wall Street, get your margins up. Figure out how to become a digital company. They're doing it and underlying those results even in different industries there's some common factors.
The United States' economy is strong. Overseas markets like Latin America and China remain strong. Or in Latin America's case recovering, so all in all you've got companies that appear to be right now in kind of a sweet spot. The question is, will they be able to stay there over the next several quarters and into next year?
>> All eyes will now turn to Boeing, the top performer on the Dow Jones Industrial Average, which reports its earnings on Wednesday.