The Dow Jones Industrial Average on Wednesday was looking at its second-best daily gain in October, with shares of International Business Machines Corp. powering more than half its late-morning rally. Shares of IBM were rally 9% or $13.59. That translates to a more than 90-point lift to the price-weighted Dow after the tech giant posted better-than-expected quarterly results. A $1 move in any one of the Dow’s 30 components equates to a 6.89-point swing. The daily surge for the Armonk, N.Y.-based tech giant, if it holds, would be the best since Jan. 21, 2009, according to FactSet. However, the stock is still down about 3.6% so far this year. IBM’s gain was powering the Dow above 23,000, with the blue-chip gauge up 135 points, or 0.6%, at 23,132, on track for its best daily gain since Oct. 2. The other main benchmarks’ moves were more muted. The S&P 500 index was little changed at 2,561, while the Nasdaq Composite Index also was trading flat at 6,625.
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