The stock rallies of the Dow’s earnings reporters are adding 120 points to the Dow’s price

The shares of the three Dow Jones Industrial Average components that reported earnings are a big reason the Dow is up Thursday while the broader stock market is down. Johnson & Johnson‘s stock rose 5.8% in morning trading to pace the Dow’s gainers, International Business Machines Corp.’s stock was second with a 3.1% rally and Travelers Companies Inc. shares were third with a 2.9% rise. The combined price gain of the three stocks was $18.14, which added 120 points to the Dow’s price. Meanwhile, the Dow was up 216 points, or 0.6%, with 18 of 30 components gaining ground, while the S&P 500
SPX,
-0.68%
fell 0.4% and the Nasdaq Composite
COMP,
-2.05%
gave up 1.4%.