Dow Jones breaks through 22,000

NYSE tradersImage copyright
AFP

The Dow Jones Industrial Average surged past 22,000 points for the very first time ever in opening trade on Wednesday, lifted by a rise in Apple shares.

The Dow, a basket of 30 major US stocks, added more than 46 points in opening trade, rising 0.21% to 22,010.62.

The Wednesday morning milestone continued a streak of share cost gains since January.

The wider S&P 500 index was essentially flat at 2,476.93.

The tech-focused Nasdaq index climbed 24.37 points or 0.38% to 6,387.31.

The markets’ rise on Wednesday morning was attributed to reaction to earnings by technology giant Apple.

Shares of the California company spiked more than 5% after the firm reported strong sales of iPhones, iPads in addition to various other services.

The Dow has risen almost 11% since the start of the year. The S&P will be up about 10%, while the Nasdaq has climbed about 17%.

Analysts first said the stock rally was due to optimism about business-friendly policies such as corporate tax reform. at This particular point they say strong corporate earnings are boosting share prices.

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