Dow tops 22000 points for first time as Apple surges


Apple jumped 6.02 percent to a record high, after the world's largest publicly listed company reported strong results and iPhone sales, and signalled its upcoming 10th-anniversary phone is on schedule. The S&P is up about 10%, while the Nasdaq has climbed about 17%.

President Donald Trump took credit for the latest run of stock market records on Twitter.

'It's an accomplishment, given that all of this has happened with the backdrop of no progress in Washington on anything'.

The roaring stock market has another milestone in its sites. And the market is much higher today than it was then. This is an increase of 117% compared to the typical daily volume of 6,703 put options. "Mainstream media seldom mentions!"

He also touted the economic success in a speech he gave to small business leaders as part of American Dream Week on Tuesday afternoon.

'But don't worry about the three, we're going to higher than three in the not-too-distant future'.

A day after soft economic data supported US bond prices, Treasurys were little changed. Cambridge Advisors Inc. now owns 6,528 shares of the company's stock valued at $1,392,000 after buying an additional 25 shares during the period. The news comes a week after the company's strong financial results for the last quarter.

While most company results this quarter are supporting the case for a firm global economy that's propelling equity gauges to new highs, questions remain about how long the rally can run amid stretched valuations and mixed USA data.

The Dow rose 0.33% to a record-high close of 21,964.

For example, since the Dow hit 21,000 on March 1, until yesterday's close, Microsoft shares had risen nearly 12%, boosting the company's value by about $59 billion, but the share price only moved from $64.94 to $72.58 and the company made up 6% of the index's gains.

The Standard & Poor's 500 index rose 3 points, or 0.2 percent, to 2,474. Most of the gains were also highly influenced by the contributions of Goldman Sachs and 3M; unfortunately, the index still managed to close 10 points lower and it managed to close at 0.33% higher and easing t the 2,476.35 mark.

In economic data, U.S. consumer spending barely rose in June, while income from all sources flat-lined for the first time in seven months.

General Motors lost 3.2 percent and Ford 2.5 percent as both reported steep drops in July US vehicle sales as the auto market continued to cool. The U.S. dollar has fallen 10% since the start of the year relative to other currencies, meaning that foreign profits are worth more in dollars and making U.S. -produced goods cheaper and more competitive overseas.