The Dow Jones Industrial Average is shooting up 537 points, or 1.6%, with 29 of its 30 components gaining ground, as investors cheered signs that the government’s debt ceiling deadline will be extended. The only stock losing ground was International Business Machine Corp.’s (IBM), which slipped 0.1%, putting it on track for a third straight loss. Meanwhile, as the best performing shares, Dow Inc. (DOW) rallied 3.6%, Nike Inc. (NKE) hiked up 2.7% and UnitedHealth Group Inc. (UNH) advanced 2.6%. IBM’s stock was also on of the two of the 75 equity components of the SPDR Technology Select Sector ETF (XLK) that was losing ground, the other was Citrix Systems Inc.’s (CTXS), which slipped 0.4%.
(END) Dow Jones Newswires
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