Dow Industrials Set Fresh Intraday Record Powered By Goldman And Visa
The Dow Jones Industrial Average on Tuesday carved out an all-time high in intraday trade, supported by a jump in shares of Goldman Sachs and Visa, as the market tries to bounce back from a technology-fueled slump. The gains also come ahead of the start of a two-day meeting of the Federal Reserve's policy-setting committee, which is expected to result in a quarter-point rise in benchmark interest rates and an update to the central bank's outlook for the U.S. economy. Against that backdrop, Goldman Sachs Group Inc.'s shares were adding about 15 points to the price-weighted Dow , helping it set an intraday record of 21,307.41. The Dow last set an intraday record and closed at an all-time high on June 9 and has ended higher in four of the past five sessions. Shares of Visa Inc. , which is viewed as a tech company rather than a financial company by some, also added about 10 points to the index. The moves come as the tech sector, as measured by the Technology Select Sector SPDR ETF , attempts to rebound from its worst two-session tumble in months. The S&P 500 index , meanwhile, is up 0.3% at 2,435, while the battered tech-heavy Nasdaq Composite Index gained 0.5% at 6,207.
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