Dow Industrial Jones Closes Above 22,000, Apple Eclipses Record High
By Fox Business // August 2, 2017
ABOVE VIDEO: Dow scores sixth straight record high.
(FOX BUSINESS) – The Dow climbed above the 22,000 mark for the first time on Wednesday, buoyed by Apple’s healthy quarterly iPhone sales, while weakness in other tech stocks held back the Nasdaq and S&P 500.
Apple jumped 4.73 percent to a record high after the world’s largest publicly listed company reported strong results. It is up 36 percent this year.
The iPhone maker’s rise helped push the Dow to a record closing high, although tech heavyweights Microsoft, Facebook and Alphabet all lost ground following recent strong gains that have made the sector the strongest performer in 2017.
Some investors believe corporations must start spending less on buying back shares and more on technology to improve productivity in order to justify further gains in Silicon Valley stocks, with the S&P 500 information technology index already up 23 percent this year.
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