Boeing's Stock Vaults Past Goldman's To Be The Dow's Biggest Driver

By Tomi Kilgore Markets MarketWatch Pulse

Boeing Co.'s stock price surge after second-quarter results has made it the most influential component of the Dow Jones Industrial Average , vaulting it ahead of second place Goldman Sachs Group Inc. . The Dow is a price weighted index, rather than weighted by market capitalization, like some other major market indexes including the S&P 500 and Nasdaq Composite . Boeing's stock is now the Dow's highest priced at $230.10, meaning each 1% move would affect the Dow's price by about 16 points. Meanwhile, Boeing's market cap ranks 20th of the Dow's 30 components at $138.9 billion, or less than one-fifth the market cap of Apple Inc. at $800.7 billion. A 1% move in Apple's stock would affect the Dow by about 10.5 points. The top 3 Dow influencers are now Boeing, Goldman and 3M Co. , even thought their combined market cap is less than half that of Apple.

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