April Webinar RegistrationApril Webinar Registration


Dow Leads Indexes Up, As IBM Stuns Street

The blue-chip Dow led the market upward Wednesday morning, as IBM (IBM), Goldman Sachs (GS) and Merck (MRK) jumped out of the gate.

X

The Nasdaq was flat while the S&P 500 rose 0.1%, but the Dow Jones industrial average bolted 0.5%. The small cap Russell 2000 added 0.4%.

Volume in the stock market today was running higher across the board vs. the same time Tuesday.

IBM scored the biggest gain in the Dow. Big Blue gapped up almost 8% in huge volume. Warren Buffett's Berkshire Hathaway had battered the stock in May when Buffett announced that Berkshire had dumped a third of its holding.

Late Tuesday, IBM released quarterly results that topped expectations on the top and bottom lines. The stock Wednesday was en route to its biggest one-day gain in more than eight years, according to Bloomberg News.

Goldman Sachs, another Dow stock, rose 1% in fast trade. The stock dropped 2.6% Tuesday, despite a beat on the earnings and revenue.

Merck, also a Dow component, popped 1%. Citigroup upgraded the stock and raised its price target from 65 to 72.

Among IBD's 197 industry groups, wood products, railroads and home furnishings did best in morning trade. Gaming software and metal-ore miners did the worst.

RELATED:

Crude Oil Up On Turmoil In Iraq

A Look At Goldman And Morgan Stanley