Owen headed the home in the fourth-minute to make it six goals in as many games in the final minute of the first half from the penalty spot.
The win maintained Keegan's 100 per cent against Sunderland, which now stretches to five games, and sinks Sunderland into the relegation dog fight.
Newcastle were never in any danger of losing the game from the moment Owen's header flew into the net, and although the visitors rallied after the break, Newcastle might have won more comfortably.
The game was only four minutes old when McShane, who had already taken a wild swing at Owen, lost the England striker and saw him run on to Geremi's cross to power a header past Craig Gordon and set St James' Park alight.
David Platt, talking on SKY Sports, said: "Owen didn't do much to score", when the striker took the defender apart and nipped in front to head into the top corner. If that was "not very much" perhaps I was watching a different game!
Owen and Mark Viduka carved the visitors open with a deft one-two inside the penalty area and when the former Real Madrid player tried to lift the ball over the sliding Higginbotham, the ball made contact with his arm and referee Mike Dean pointed to the spot.
Owen stepped up but made a right hash of it, but Gordon let it slip through his grasp.
Owen could have completed a famous hat-trick within three minutes of the restart, but his control from Beye's cross let him down.
Keane brought on Michael Chopra late in the game, but the ex-Newcastle striker hardly made any impression against Taylor and company, who held firm throughout.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
