Dow industrials set fresh intraday record powered by Goldman and Visa

The Dow Jones Industrial Average on Tuesday carved out an all-time high in intraday trade, supported by a jump in shares of Goldman Sachs and Visa, as the market tries to bounce back from a technology-fueled slump. The gains also come ahead of the start of a two-day meeting of the Federal Reserve’s policy-setting committee, which is expected to result in a quarter-point rise in benchmark interest rates and an update to the central bank’s outlook for the U.S. economy. Against that backdrop, Goldman Sachs Group Inc.’s shares GS, +1.03% were adding about 15 points to the price-weighted Dow DJIA, +0.44% helping it set an intraday record of 21,307.41. The Dow last set an intraday record and closed at an all-time high on June 9 and has ended higher in four of the past five sessions. Shares of Visa Inc. V, +1.69% which is viewed as a tech company rather than a financial company by some, also added about 10 points to the index. The moves come as the tech sector, as measured by the Technology Select Sector SPDR ETF XLK, +0.72% attempts to rebound from its worst two-session tumble in months. The S&P 500 index SPX, +0.45% meanwhile, is up 0.3% at 2,435, while the battered tech-heavy Nasdaq Composite Index COMP, +0.73% gained 0.5% at 6,207.

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