UPDATE: Goldman, Apple's stocks deliver a 40-point jolt to Dow's record ascent
The Dow Jones Industrial Average was trading near session highs Thursday midday, buoyed by sharp gains in components Apple Inc., and Goldman Sachs Group Inc. Goldman's shares (GS) alone, up $4.59, or 1.9%, were producing a more than 30-point tailwind for the price-weighted average, while Apple's (AAPL) climb, up $1.71, or about 1.1%, added another 12 points. A $1 move in any one of the benchmark's components translates to to a swing of 6.89 points. A steady rise in yields of U.S. Treasury bonds, notably the 10-year Treasury , has supported the banking sector, which tends to benefit from a higher interest-rate regime. More broadly, the S&P 500's financials sector (XLF) was up 1.2%. Apple's stock looked set to rebound from a 0.7% decline in Wednesday trade after the iPhone maker's rival Alphabet Inc. (GOOGL)(GOOGL) rolled out new product roster, including a new cellphone. Most recently, the Dow was up 94 points, or 0.4%, at 22,759, the S&P 500 index was 0.5% higher at 2,550, while the Nasdaq Composite Index was showing a gain of 0.6% at 6,575. All three benchmarks were trading near intraday all-time highs.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires