Dow's Latest Feat: Topping 22K, Thanks to Apple

After hitting 21K on March 1
By Newser Editors,  Newser Staff
Posted Aug 2, 2017 8:40 AM CDT

(Newser) – The Dow Jones Industrial Average traded above 22,000 for the first time at the open on Wednesday, and MarketWatch gives some context: Should it close above that mark, it would be the third 1,000-point milestone in a year, the most the Dow has achieved in that span. (Though it points out that as the Dow gets higher, "the smaller each 1,000 point move is in percentage terms.") Credit Apple: The AP reports Apple hit a record of its own, jumping 6% in the first moments of trading after announcing stronger-than-expected quarterly results Tuesday, "accounting for all of the Dow's gain."

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The Dow hit 21,000 on March 1, and the path to 22,000 "advanced in fits and starts," as MarketWatch put it, over concerns about when and how the pro-growth policies President Trump has promised might be enacted. But before you pop the champagne and log on to see your 401(k) balance, a reality check from USA Today: It reports that August historically hasn't been too kind to the market, with the Dow tumbling an average of 1.4% over the last 20 Augusts; that's the worst of any month. (Read more Dow Jones stories.)

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