The stock market bellwether Dow Jones Industrial Average crossed the record-setting 22,000 mark on Wednesday morning after flirting with the number for the past few days. The index had been off the strong earnings reports major companies had been reporting the past few weeks and crossed the threshold thanks to Apple’s stock, which surged after greatly exceeding quarterly expectations on Tuesday.
The index opened Wednesday at 22,004.36 after closing Tuesday at 21,963.03. Apple’s stock increased by about 6 percent, causing a 43-point surge by the 30-stock index.
The markets have been surging since the November elections, with major stock indexes gaining about 20 percent since President Trump was elected and about 10 percent since the beginning of the year.
It took a little more than five months for the Dow to increase from 21,000 to 22,000 points as companies such as airline manufacturer Boeing, fast food giant McDonald’s and health insurer UnitedHealth Group have been carrying the index a lot over the course of the year while their stocks continue to climb. Boeing’s stock has increased over 30 percent since March 1.
(c) 2017, The Washington Post · Alex Schiffer