Caterpillar (CAT), 3M (MMM), United Tech (UTX), Emerson Electric (EMR) Jump on Weak US Dollar

The falling value of the U.S. dollar will continue to reap benefits for U.S. export companies like Caterpillar (NYSE:CAT), 3M (NYSE:MMM), United Tech (NYSE:UTX) and Emerson Electric (NYSE:EMR), especially when its coupled with strong demand for the products they make.

As long as the demand is there, which in the case of Caterpillar will be for years in a very targeted market, investors can watch the behavior of the U.S. dollar against significant currencies to gauge the impact on the earnings of the stocks.

Those with a wider range of products are a little harder to follow, as they are spread across numerous currencies and countries, and are much more demanding as to the overall impact on the bottom line.

Either way, if the U.S. dollar weakens, we can watch the major markets a company serves and can make calculations in regard to the greenback like that.

United Technologies closed Thursday at $83.85, gaining $1.80, or 2.19 percent. Emerson Electric closed at $60.53, up $1.61, or 2.73 percent. 3M closed the day at $92.81, rising $1.49, or 1.63 percent. Caterpillar closed at $104.25, gaining $3.28, or 3.25 percent.