Toronto stock market lower as Dow Jones cruises past 23000 record

Toronto stock market lower as Dow Jones cruises past 23000 record

The Dow Jones industrial average rose again above the 23,000 level on Wednesday, driven by a jump in IBM after the computing giant hinted at a return to revenue growth.

Stocks closed slightly higher Tuesday as two major indexes reached new records.

Shares of the largest US health insurer UnitedHealth touched a life high and was last up 6.3 percent, after the company reported a stronger-than-expected profit and raised its full-year earnings forecast.

At 1509 BST, the Dow Jones Industrial Average was ahead by 0.45% or 104.58 points at 23,102.22, with the S&P 500 up by 0.05% or 1.22 points to 2,560.58, while the Nasdaq Composite was drifting 0.05% or 3.33 points lower, changing hands at 6,620.33.

Shares of IBM IBM.N surged 9 percent and accounted for almost 92 of the 136 point gain in the blue-chip index, after the company signaled it was back on growth path.

Shares of big banks Wells Fargo WFC.N , Bank of America BAC.N and Goldman Sachs GS.N rose between 0.84 percent and 1.83 percent. The stock ended well off its highs of the session.

Netflix slipped 1.5 percent after touching a record high as more subscribers signed up for its popular original content in the latest quarter.

Boeing fell 0.4% after rival aircraft maker Airbus took a majority stake on Bombardier's C-series passenger jets.

Other indices also opened in the green Wednesday morning.

Greater China markets were stable, with Hong Kong's Hang Seng Index off 0.05% in early trade.

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