Analysts on Thursday upgraded Dow Jones Industrial Average (DJIA) shares to “buy” from “sell” following a third quarter report that beat consensus estimates.
The Dow Jones industrial average (DJI) rose by 22.5 points, or 0.7%, to 17,868.50.
Analysts surveyed by FactSet had forecast a gain of 1.2%.
The Dow’s gains were led by a surge in shares of hedge fund manager Michael Pachter, which rose to $20.43.
Pachters shares rose by almost 4% in after-hours trading.
Analysts also saw earnings rise by 0.2% for Caterpillar Inc., which saw its profit rise to $1.18 per share, from $1 per share a year earlier.
Analystrs had forecast earnings of $1 a share.