Dow Jones industrial average trades above 22000 points for first time

Eastern time. It traded above 22,000 points earlier. It nudged up against the dollar and Swiss Franc too, briefly striking new 2-1/2-year highs against both at $1.1846 and 1.1468 francs per euro respectively.

“Armenpress” reports the value of Dow Jones up by 0.33% to 21963.92 points, S&P 500 up by 0.24% to 2476.35 points, Nasdaq up by 0.23% to 6362.94 points. Nwam LLC bought a new position in SPDR Dow Jones Industrial Average ETF during the second quarter worth $215,000.

Apple’s figures, which were to unveil its quarterly accounts after the close, were particularly expected.

The Dow has only 30 constituent companies which do not reflect those with the highest market value in the United States.

With the new iPhone being delayed, the company manages to resort to the Apple iPad’s sales; this quarter proved to be a great one for the units as they rose by 15% in sales compared to a year ago. Data also showed that the eurozone’s economic growth gathered steam in the second quarter.

Traders are awaiting the release of official USA government data on weekly crude inventory levels after an independent survey on Tuesday showed an unexpected rise of 1.8 million barrels.

Year-on-year inflation in the United States weakened by one-tenth of a point in June to its lowest level in nine months according to the consumer price index.

Randy Frederick, vice president at the Schwab Center for Financial Research, said the shift is a good sign. Commodities-focused stocks were posting outsize gains, with Woodside Petroleum rising 2.3%. Bond market, “says Gregori Volokhine”.

In a typical quarter, 64per cent of companies beat expectations. Its stock was down 0.24%.

Benchmark 10-year notes last rose 1/32 in price to yield 2.2496 percent, from 2.251 percent late on Tuesday. The Nasdaq composite lost 28 points, or 0.5 percent, to 6,334. “But the biggest catalyst in this sector is Shopify’s quarter”.

While most analysts said that increasing competition in China and a fast saturating smartphone market could lead to slowing growth for Apple, Raymond James’ analyst Tavis McCourt said the launch of iPhone 8 could shore up demand China. Its stock tumbled $1.70, or 15.5 percent, to $9.25. Apple said all-time iPhone sales topped the 1.2 billion mark during the three months ended in June after 41.03 million units were shipped during the quarter, a 1.6% increase from the same period past year. The company said it’s being hurt by lower prices for generic drugs, as well as smaller increases in the prices of brand-name drugs and the loss of a contract with the Safeway grocery chain.

The Canadian dollar was trading at 79.54 cents U.S., down from an average price of 79.91 cents United States on Tuesday.