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 alone, up $4.04, or 1.7%, were producing a nearly 30-point tailwind for the price-weighted average, while Apple’s climb, up $1.41, or about 1%, added another 10 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. Apple’s stock looked set to rebound from a 0.7% decline in Wednesday trade after the iPhone maker’s rival Alphabet Inc. rolled out new product roster, including a new cellphone. Most recently, the Dow was up 83 points, or 0.4%, at 22,744, the S&P 500 index was 0.4% higher at 2,548, while the Nasdaq Composite Index was showing a gain of 0.5% at 6,563. All three benchmarks were trading near intraday all-time highs.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News