IBM Helps To Lift The Dow Jones Industrials
International Business Machines Inc.(NYSE:IBM) is trading higher today by 0.68 cents to $150.67 a share. This is a new all time high for the tech giant. IBM is a major Dow Jones Industrial Average(DJIA) component. It is important to realize that the Dow Jones Industrial Average(DJIA) is just 30 stocks. The DJIA is also a price cap weighted index. Therefore, IBM will carry more weight at $150.00 a share in the index than a stock such as Disney Corp.(NYSE:DIS) which trades at $39.20 a share. The NASDAQ and the S&P 500 Index are market cap weighted indexes. IBM will have short term intra-day resistance around the $151.00 area.