Goldman Sachs Group Inc. and Travelers Companies Inc. can almost be completely blamed for the Dow Jones Industrial Average DJIA falling in morning trading Tuesday, even though the rest of the stock market is enjoying a broad rally. Goldman’s stock GS was dropping $22.41, or 6.0%, to lead the Dow’s price and percentage decliners, and to take 148 points off the Dow’s price, after the bank and broker reported disappointing fourth-quarter profit. And Travelers stock TRV slid $9.74 or 5.0%, to cut the Dow’s price down by 64 points, after the insurer’s a profit warning. The price declines of the stocks shaved a combined 212 off the Dow’s price, while the Dow was down 238 points, or 0.7%. Meanwhile, the S&P 500 SPX gained 0.2% and the Nasdaq Composite COMP advanced 0.2%. Market internals were just as bullish, as the number of advancing stocks outpaced decliners 1,814 to 1,034 on the New York Stock Exchange and 2,037 to 1,719 on the Nasdaq. Volume in advancing stocks made up 54.0% of total volume on the Big Board and 56.6% of total volume on the Nasdaq.
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