Dow tops 22k as Apple stocks surge

This frame grab shows part of the Twitter page of U.S. President Donald Trump. The stock market has never been higher and Trump would like more people to pay attention. On Tuesday Aug. 1 2017 Trump tweeted about the

This frame grab shows part of the Twitter page of U.S. President Donald Trump. The stock market has never been higher and Trump would like more people to pay attention. On Tuesday Aug. 1 2017 Trump tweeted about the

The aerospace giant has contributed almost 400 points since the blue-chip index hit 21000 in March through Tuesday's close, with much of its gains coming in the past week after the company's quarterly earnings.

Stock market optimists say the Dow's current rally is based on improving sales and revenues for us companies and not irrational exuberance like the dot-com stock hysteria back in 2000.

The 30-component Dow industrials hit the latest in a string of all-time highs on Tuesday finishing at a record and was powered on Wednesday by a rally in shares of Apple, which hit its own record at the open following better-than-expected results late-Tuesday. Now they say strong corporate earnings are boosting share prices.

As we run through the next round of company earnings reports, investors will be keeping a close eye on the data that is reported.

U.S. private employers added 178,000 jobs in July, below economists' expectations, a report by a payrolls processor showed on Wednesday, ahead of the U.S. Labor Department's more comprehensive non-farm payrolls report on Friday.

ANALYST'S COMMENT: "Despite the blemish from softer crude prices, markets in the Asian region are poised for further up move in the morning", said Jingyi Pan, a market strategist at IG in Singapore.

The S&P 500 information technology dipped 0.51 percent, with Facebook falling 1.82 percent and Alphabet, Google's parent company, down 1.42 percent.

Lawsuit alleges White House link in Seth Rich conspiracy
Spokeswoman Sarah Huckabee Sanders says at a White House briefing Tuesday that, "The president had no knowledge of the story". But Wheeler went on FetchYourNews's YouTube show , and said on May 23, "With respect to the statement I put out yesterday".

With two thirds of S&P 500 companies having reported their second-quarter earnings, 72per cent have beaten Wall Street's expectations, according to Thomson Reuters I/B/E/S. The forecast eased worries that the launch of the next iPhone model would be delayed. Shares of Apple's suppliers in Asia rose.

The MSCI tech index for Asia also climbed 0.9 percent to ground not trod since early 2000, bringing its gains for the year to a heady 40 percent.

Julian Emanuel, executive director at US equity and derivatives strategy at UBS in NY, said the weakness of the S&P 500 and Nasdaq on Wednesday versus the strength of Apple shares showed an "underlying fatigue in the rally". The contract shed $1.01, or 2 percent, to close at $49.16 a barrel on Tuesday.

WALL STREET: U.S. stocks finished higher on Tuesday.

Oil was a bright spot, with the September crude contract gaining 46 cents to $50.17 United States per barrel.

The Standard & Poor's 500 index rose 3 points, or 0.2 percent, to 2,474.

At 9:35am ET (1335 GMT), the Dow Jones Industrial Average was up 47.63 points, or 0.22%, at 22 011.55, the S&P 500 was up 1.83 points, or 0.07%, at 2 478.18. Now the dollar has lost ground against other currencies five months in a row. The euro was up 0.45 per cent to US$1.1854.

Recommended News

  • North Korea missile tests continue to rile lawmakers in Washington

    North Korea missile tests continue to rile lawmakers in Washington

    A military operation against North Korea would saddle the USA with expanded costs and responsibility on the peninsula. This gives the United States little warning if a missile or nuclear test is about to happen.
    White House Lays Out Ambitious Deadline For Tax Reform

    White House Lays Out Ambitious Deadline For Tax Reform

    Bush's White House, said it appears that little progress has been made since the administration unveiled its tax goals in April. In coming weeks the administration, lawmakers and advocacy groups will undertake a concerted campaign for tax reform.
    Gujarat Congress MLAs are locked up at resort near Bengaluru

    Gujarat Congress MLAs are locked up at resort near Bengaluru

    Deputy CM Nitin Patel said, "This is an unfortunate event for the people of North Gujarat". The desertions have cast a shadow on the fate of Patel in the coming Rajya Sabha polls.
  • Microsoft's New Program Lets Customers Upgrade Their Surface Tablets, Laptops

    Microsoft's New Program Lets Customers Upgrade Their Surface Tablets, Laptops

    The program lets participants upgrade to a new machine after 18 months when they return their existing hardware in good condition. Surface Plus members also get what Microsoft calls "best in class" service and support from Microsoft Stores .
    Apple already has a software 'fix' for the iPhone 8's worst problem

    Apple already has a software 'fix' for the iPhone 8's worst problem

    The iPhone 8 is expected to have a large cut-out area to house the speaker, camera and 3D sensing facial recognition hardware. Such leaks need to be taken with a pinch of salt as they could simply be holding icons or deliberate misdirection by Apple.
    Two militants killed in South Kashmir encounter

    Two militants killed in South Kashmir encounter

    The security forces are going after militants as part of operation "hunt down" and on the basis of a "hit list" of militants. The slain militants have been identified as Irfan Ahmad Sheikh and Abid Magray, both locals belonging to Hizbul outfit.
  • Final Fantasy XV Update Patch 1.13 Is Out Now To Download

    Final Fantasy XV Update Patch 1.13 Is Out Now To Download

    If you overwrite save data from the old version with save data of this version, it can no longer be used in the old version. The new Cross Chain system allows heavy hits and defense breaks with additional chain links between you and the gang.
    Michigan Veteran To Receive Medal Of Honor Today

    Michigan Veteran To Receive Medal Of Honor Today

    The law waived the five-year period for McCloughan and made it possible for the president to award McCloughan the medal. Debbie Stabenow, D-Lansing, who worked on getting the measure into law, met McCloughan Friday in her office.
    Reince Priebus: Trump 'wanted to go a different direction'

    Reince Priebus: Trump 'wanted to go a different direction'

    Trump (@ realDonaldTrump ) July 28, 2017I would like to thank Reince Priebus for his service and dedication to his country. In a statement, Priebus said it had been one of the great honors of his life to serve Trump and the country.
  • Injury rules David Rudisha out of London

    Injury rules David Rudisha out of London

    Rutherford said: "As an athlete there is no substitute for the thrill of competing in a world-class event such as the World Championships.
    Putin's Retaliation Against US Could End Up Hurting Russians

    Putin's Retaliation Against US Could End Up Hurting Russians

    Although he's ordered the U.S.to reduce its staff in Moscow and other cities, most people on that staff probably aren't American. At the same time, he said that areas of cooperation between the USA and Russian Federation do exist.
    PM Narendra Modi is unstoppable, says Nitish Kumar

    PM Narendra Modi is unstoppable, says Nitish Kumar

    After Nitish broke from the grand alliance on 26 July, several RJD and Congress members expressed shock over the "betrayal". On Monday, Kumar had said there was no one who had the capacity to challenge Modi in the 2019 Lok Sabha elections.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.