IBM and Dow (the company) added a whopping 111 points to the late afternoon DOW (Index) surge … clearly intraday announcements in any of the 30 DOW component stocks can have a major impact on the DOW.
From Marketwatch.com just 2 mins before the close …
[[[[[ Shares of IBM and Dow are posting positive gains Thursday afternoon, sending the Dow Jones Industrial Average into positive territory. Shares of IBM IBM, +9.53% and Dow DOW, +3.45% are contributing around a third of the blue-chip gauge's intraday rally, as the Dow DJIA, 0.64% is trading 220 points higher (0.6%). IBM's shares are up $16.04, or 9.2%, while those of Dow have risen $1.75 (3.3%), combining for an approximately 117-point boost for the Dow. Caterpillar CAT, +3.48%, Walgreens Boots WBA, +3.31%, and 3M MMM, +2.94% are also contributing significantly to the gain. A $1 move in any one of the 30 components of the index equates to a 6.59-point swing. ]]]]]
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