The Dow Jones Industrial Average DJIA, +0.05% could blame International Business Machines Corp.'s stock IBM, -6.20% for falling into negative territory Thursday, despite gains in the broader stock market amid bullish breadth data. The Dow, which was up as much as 110 points earlier in the session, but was now down 11 points, or less than 0.1%, in midday trading, although 18 of 30 components were trading higher. IBM's stock was the Dow's biggest lower, falling $8.
93, or 6.3%, to shave about 61 points off the Dow's price, after the technology company reported third-quarter results late Wednesday. Meanwhile, the S&P 500 SPX, +0.28% was up 0.2% and the Nasdaq Composite COMP, +0.30% was up 0.3%. The number of advancing stocks outnumbered decliners 1,725 to 1,060 on the NYSE and 1,786 to 940 on the Nasdaq, while volume in advancing stock represented 57.1% of total volume on the Big Board and 63.3% of total volume on the Nasdaq.
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