Dec. 14, 2020, 9:36 a.m. EST

Caterpillar's stock rallies after retail sales decline decelerates again

Shares of Caterpillar Inc. (NYS:CAT) rallied 1.5% in morning trading Monday, after the construction and mining equipment maker reported November retail sales that showed a continued deceleration in the decline, and two regions where sales increased. Global total machines retail sales, on a rolling 3-month basis, fell 11% in November after falling 17% in October and declining 20% in September. The biggest decline was in North America at down 20% in November, after a 28% drop in October. Sales increased in the Asia/Pacific and Latin America regions, and improvement from October when sales increased in just Asia/Pacific. Worldwide retail sales in resource industries fell 13% in November, after falling 29% in October, while construction industries sales declined 9% after dropping 13% in October. The stock has run up 23.3% year to date, while the Dow Jones Industrial Average [s; djia] has gained 6.1%.

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