RTTNews | Jan 6, 2021 09:48AM EST

09:48 Wednesday, January 6, 2021 (RTTNews.com) - Shares of Caterpillar Inc. (CAT), a manufacturer of construction and mining equipment, are rising almost 8 percent or $4.23 in Wednesday's morning trade at $191.40, after hitting a new 52-week high of $191.50 despite no company-centric news.

U.S. stocks are mixed on Wednesday as the results of the Georgia runoffs currently point to Democrats taking over control of the U.S. Senate. The Dow Jones Industrial Average edged higher as Democratic control of the House, Senate and White House is seen as a positive for cyclical stocks due to the likelihood of additional fiscal stimulus.

Caterpillar has traded in a range of $87.50 to $191.50 in the past 52 weeks.

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