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Oil Prices Hit 8-Month High; Caterpillar’s Shares Up 20% in 2014

By: , dated June 12th, 2014
Stocks continued to fall deeper in the red today, mainly due to escalating violence in Iraq and mixed economic signals. It is also likely that gas prices will quickly rise due to the tension in Iraq; gas was pushed to an eight-month high today. One of the most important stocks in the Dow is Caterpillar (CAT). As stocks are retreating from their recent all-time highs, Caterpillar continues to gain. Its shares are up nearly 20% and is the best performing stock in the Dow Jones. Tesla’s (TSLA) CEO, Elon Musk, stated today that he would not penalize other companies that wanted to make products based on Tesla’s patented technology. Thus, opening up patents to the public. He hopes that this encourages other companies within the auto industry to create more electric cars.

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