Big gains from Apple give the Dow Jones Industrial average a boost above 22,000 points for the first time.
The Dow Jones Industrial average wasted little time hitting a new milestone Wednesday, as the world’s most closely watched stock market gauge hit 22,000 points for the first time.
And investors could give a lot of credit for the Dow’s new record to Apple.
The Dow rose 53 points shortly after the market opened, and was at 22,017.17 in early trading.
It’s been a year of rapid gains for the Dow, which reached 20,000 points for the first time on Jan. 25, then crossed the 21,000-point mark on March 1. For the year, the Dow is up 11.3 percent.
Dow component Apple led the day’s charge, as the iPhone maker’s shares climbed 5.5 percent, to $158.34. On Tuesday, Apple reported better-than-expected quarterly results, which we led by gains in sales of iPhone, iPads, Mac computers and services.
Apple’s impact on the Dow was even more pronounced as only 15 of the Dow’s 30 component stocks were in positive territory Wednesday.
