A boost in Apple’s shares Wednesday morning resulted in the Dow Industrials hitting the 22,000 mark for the first time ever, Reuters has reported.
Apple, whose stock has jumped 30 percent this year, is the world’s largest publicly-traded company and has announced it will be coming out with a 10th-anniversary iPhone.
Apple’s stock jumped 6.02 percent Wednesday, a record high – causing the Dow to hit a record high, as well.
It is the third milestone for the Dow since President Trump’s inauguration. In January, the Dow hit the 20,000 mark, and reached 21,000 on March 1, due to a rise in Goldman Sachs and JPMorgan.
Wall Street is reportedly losing confidence that President Trump and Congress will cut taxes or increase infrastructure spending this year, Reuters reported.
However, the chief market analyst at ThinkMarkets |U.K., Naeem Aslam, stated, “Investors are completely immune to all the drama which is taking place in Washington because if you look at the performance of the Dow, it appears everything is hunky-dory.”
Two-thirds of S&P 500 companies have already reported their second-quarter earnings and at least 72 percent have exceeded expectations.
The Dow has risen by 11 percent, so far, in 2017.
Eric Trump, President Trump’s second-oldest son, sent out a Twitter message Wednesday morning, with the news about the Dow hitting 22,000:
“Let’s see how much coverage this gets by @CNN and #MSM. This is real news! #MakeAmericaGreatAgain!”
— Eric Trump (@EricTrump) August 2, 2017
— Eric Trump (@EricTrump) August 1, 2017
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