Dow Jones industrials break above 22000

Stocks Open Higher: Apple Breaks Out, Dow Clears 22000

The industrials topped the 22,000 level for the first time but also gave up some early ground.

Dow Jones Industrial Average notches fifth straight record close.

Elsewhere, India's central bank cut interest rates for the first time in nearly a year, responding to a slowing economy and record low inflation. It is up 236% since its bear market low of 6547.05, which means a $10,000 investment would be worth $33,600 now.

Gains were broad based, with twenty-two of 30 index members finishing in positive territory.

The results may reassure investors anxious about high valuations. He said there are better opportunities in overseas markets, especially in Europe. Thanks to the deal, July became the best month of the year for M&A activity, according to Richard Peterson of S&P Global Market Intelligence. Manufacturing of course accounts for about 12 per cent of the USA economy.

JPMorgan's Kelly urged investors not to "get lulled into complacency" by the new highs in the USA stock market. Many investors look to the Relative Strength Index (RSI) reading of a particular stock to help identify overbought/oversold conditions. That's how it is supposed to work, he adds. That's because it makes their products more affordable when purchased with stronger currencies.

The U.S. index closed at a record high of 21,964 on Tuesday.

That forecast suggested that Apple could launch its newest iPhone model - expected to be called the iPhone 8 - in September, despite earlier rumors of a possible delay.




"I don't think it foretells the next leg of the market", says Bell.

"Earnings growth allows the market to be patient about Washington".

The Dow has risen 11% in 2017, even as Wall Street is losing confidence that President Donald Trump and a Republican-controlled Congress would be able to cut taxes and increase infrastructure spending this year. Potential budgetary gridlock in coming months could also spook investors.

The Dow Jones Industrial Average extended its winning streak Tuesday, putting it on track for another major milestone.

Apple's latest revenue figures also impressed, while there have also been gains for shares of other Dow stocks including Boeing, McDonald's and Verizon in recent days.

Shares in the world's most valuable company surged 6 percent after-hours to a record of more than $159 each, taking its market capitalisation above $830 billion. In the past five trading days, the Dow has gained almost 278 points, and Boeing, itself, accounted for 205 upside Dow points in that period.

It helped dispel one of the few nagging doubts of the corporate earnings season so far - that Amazon's lacklustre results last week might have revealed some tiredness among the giant USA tech and internet stocks that have been driving the stock market rally all year.

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