Surging Goldman Shares Keep Powering Dow to Records

Mar 01, 2017 - MoneyBeat

Big banks kick-started the postelection rally and they continue to drive it.

As the Dow Jones Industrial Average crossed 21000 for the first time in its history on Wednesday, Goldman Sachs Group’s share price, at $253, makes it the most-influential member of the 30-stock average. Goldman’s stock advance of more than 36% since Election Day translates into 453, or 16%, of the nearly 2800-point advance, according to WSJ Market Data Group. The Dow is price-weighted, meaning pricey stock...