Apple helps Dow create a new milestone

Apple helps Dow create a new milestone

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The stock exchanges in New York ended with gains on Wednesday due in part to the heavy price gain of heavyweight Apple. The Dow-Jones Index for the first time exceeded the 22,000-point milestone. The share of the technology company benefited from good financial results and jumped almost 5 percent.

The Dow eventually ended 0.2 percent higher at 22,016.24 points. The broad S & P 500 ended 0.1 percent higher at 2477.57 points. NASDAQ almost reached 6362.64 points.

After the election victory of Donald Trump last year, the Dow made a striking leap forward, with the November 19th limit being exceeded for the first time. The 20,000 limit was wound up in January and more than a month later, the 21,000-point barrier broke through.

The results that Apple published on Tuesday after the close of the stock market were better than expected. In addition, the outlook for the coming quarter provided investors reassurance that new iPhones would be available at their launch.

US-Canadian brewer Molson Coors made a 3 percent price jump, helped by sales outside of the US. Navigation service providers Garmin rose 4.5 percent after posting a better-than-expected quarterly profit.

Net income moved up from $161.1 million or $0.85 per share in the year-ago quarter to $171 million or $0.91 per share in the second quarter. On a pro-forma basis, it reported profit of $0.88 a share, topping analysts’ average estimate of 81 cents. Revenue for the quarter rose slightly to $816.9 million. Analysts were looking for $807.7 million.

This was also true of Ferrari’s figures, which announced that they would come with SUVs. The share of the sports car brand increased 2 percent.

American Airlines lost 1.2 percent. Qatar Airways announced that, after continuing resistance from the US aviation group, it did not take 10 percent interest in its industry as previously announced.

In addition, investors responded to the job report of payroll processor ADP. This showed that employment in American business in July has grown less strongly than a month earlier. The figures from ADP are ahead of the job report published by the US government on Friday.

 

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I am an independent trader currency and commodity with about eight years of experience. I love the financial world because it is like one big puzzle and I hope we help each other out to solve the puzzle to help us realize our dreams. I received my BBA in Accounting (With Honors) - from The University of Texas - San Antonio. Achievements: Beta Alpha Psi National Accounting Honors Fraternity member, Leadership Challenge Participant, Dean's List. I have passed the Series 63, 22, Texas Real Estate exam, and the DRI Business Continuity exam.

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