Dow soars 700 points on gains for Caterpillar, JPMorgan Chase stocks

The Dow Jones Industrial Average is soaring Friday afternoon with shares of Caterpillar and JPMorgan Chase leading the way for the blue-chip average. Shares of Caterpillar
CAT,
+6.07%
and JPMorgan Chase
JPM,
+5.25%
have contributed around a third of the index’s intraday rally, as the Dow
DJIA,
+2.47%
is trading 708 points, or 2.3%, higher. Caterpillar’s shares are up $10.31, or 5.8%, while those of JPMorgan Chase have climbed $5.31, or 4.6%, combining for an approximately 103-point boost for the Dow. Other components contributing significantly to the gain include Goldman Sachs
GS,
+4.60%,
Dow
DOW,
+4.32%,
and Walt Disney
DIS,
+3.50%.
A $1 move in any of the benchmark’s 30 components results in a 6.59-point swing.