Economy

Dow closes above 23,000 with IBM surge

By Ovunc Kutlu

NEW YORK

The Dow Jones Industrial Average closed above 23,000 points for the first time Wednesday as IBM shares performed their best in more than eight years.

The Dow soared 160 points to end at 23,157 – just 76 days since the index moved from the 22,000 threshold mark.

Much of the increase was driven by IBM shares that jumped nearly 9 percent – its best daily performance since January 2009.

Goldman Sachs rose 2.5 percent on the Dow, too.

Those companies’ rises were supported by their third-quarter results that beat market expectations, according to analysts.

The two other major indexes on Wall Street ended the day with modest gains.

The S&P 500 increased almost two points to finish at 2,561. The Nasdaq rose less than one point to close at 6,624. 


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