By Kate Gibson

In looking at second-quarter earnings season, U.S. stock market analysts anticipate year-over-year earnings for the industrial complex to plunge about 43%, with the sector expected to be among the top four worst performers.

"That low bar that has been set makes it easier for companies like Caterpillar Inc. (CAT) and Deere & Co. (DE) to beat expectations," said Art Hogan, chief market strategist, Jefferies & Co.

On Tuesday, shares of Caterpillar gained 11% after the heavy equipment maker reported results topping expectations. .

And, Caterpillar fronted gains on the Dow Jones Industrial Average (DJI), up 68.93 points at 8,917.08. The S&P 500 (SPX) added 2.10 points to 953.23, while the Nasdaq Composite (RIXF) fell 1.81 points to 1,907.48.