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Dow soars to record close on earnings beats by Caterpillar, 3M

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The Dow Jones Industrial Average hit another record yesterday on strong quarterly results from 3M and Caterpillar.

The index moved up 167.8 points to close at 23,441.76, hitting intraday and closing record highs.

Caterpillar's shares rose 5 percent after reporting earnings of $1.95 per share. Analysts were looking for $1.27 per share.

3M shares increased by 5.9 percent on earnings per share of $2.33. That beat analysts' expectations of $2.21 per share.

Read more from CNBC.

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