Goldman, Chevron Stock Surges Are Keeping The Dow Positive

By Tomi KilgoreMarketsMarketWatch Pulse

There are two key reasons the Dow Jones Industrial Average is still up, when the other major market indexes are down--Goldman Sachs Group Inc. and Chevron Corp. . Goldman's stock soared $4.78, or 2.2%, to a nine-year high, as the continued climb Treasury yields spurred further buying in financial stocks. Chevron shares jumped $3.16, or 2.8%, to a two-year high, as crude oil prices extended their surge above the $50-a-barrel mark. Those two stocks were adding 54 points to the Dow, which was up 42 points in afternoon trade. Meanwhile, the S&P 500 was down 0.4%, the Nasdaq Composite Index was shedding 1.4% and the Russell 2000 Index fell 0.5%.

Copyright © 2016 MarketWatch, Inc.

Continue Reading Below