Thread: Dow closes at 22,000, book third 1,000-point milestone of year

Dow closes at 22,000, book third 1,000-point milestone of year

Published: Aug 2, 2017 5:15 p.m. ET

Blue-chip index sets milestone fueled by Apple Inc. share rally

Dow’s 1,000-point milestones in 2017.

By Mark DeCambre

The Dow Jones Industrial Average on Wednesday notched a psychological milestone at 22,000, highlighting a steady record ascent for the blue-chip benchmark.

The 30-component Dow industrials DJIA, +0.24% hit the latest in a string of all-time highs on Tuesday finishing at a record and was powered on Wednesday by a rally in shares of Apple Inc. AAPL, -0.05% which trading in record territory, following better-than-expected results late-Tuesday.

The Dow last hit 21,000 on March 1, but has advanced in fits and starts over the past five months amid growing doubts about how quickly President Donald Trump can implement pro-growth policies pledged during his campaign for the White House. A defeat last week in passing a bill to revamp the Affordable Care Act, known as Obamacare, underlined those fears.

The close above 22,000 represents the seventh fastest such move to a 1,000-point milestone for the Dow at 107 trading sessions (excluding the day it hit 21,000 in March and Good Friday on April 14 when markets were closed), according to WSJ Market Data Group. It’s also the blue-chips would have hit three milestones, or moved at least 3,000 points in the space of a single year. the most of any calendar move for the Dow. Of course, the higher the DJIA rises, the smaller each 1,000 point move is in percentage terms.

The blue-chip gauge has enjoyed a relatively steady advance, powered by stellar moves in shares of plane maker Boeing Co. BA, -0.62% which has been a key driver of the price-weighted average over the past six months and notable over the past week. Boeing shares have climbed 53% so far this year, making it the best performer in the benchmark and the fifth best year-to-date performer in the broader-market S&P 500 index SPX, +0.05%

Check out the table of the Dow’s milestones below, according to WSJ Market Data Group:

Trading sessions between 1,000 point milestones Dow’s 1,000-point milestone Dates of first close above 1,000-milestone

24 11,000 5/3/1999
24 21,000 03/01/2017
42 20,000 01/25/2017
59 14,000 7/19/2007
85 7,000 2/13/1997
105 8,000 7/16/1997
120 18,000 12/4/2014
107 22,000 08/02/2017
127 13,000 4/25/2007
139 16,000 11/21/2013
153 17,000 7/3/2014
182 9,000 4/6/1998
189 5,000 11/21/1995
226 6,000 10/14/1996
246 10,000 3/29/1999
483 19,000 11/22/2016
975 4,000 2/23/1995
1,080 3,000 4/17/1991
1,461 15,000 5/7/2013
1,879 12,000 10/19/2006
3,573 2,000 1/08/1987
21,652 1,000 11/14/1972

The blue-chip average’s march toward 22,000 wasn’t missed by President Trump on Tuesday. who tweeted about the move:

Donald J. Trump
✔
@realDonaldTrump

Stock Market could hit all-time high (again) 22,000 today. Was 18,000 only 6 months ago on Election Day. Mainstream media seldom mentions!

8:49 AM - Aug 1, 2017

http://www.marketwatch.com/story/dow...000-2017-07-31

I posted the above article for 6 Million Dollar Man!! Thank you 6 Million Dolllar Man!!



GO TRUMP GO!!!!

Dow closes above 22,000 for the first time after Apple jumps on earnings

Apple's stock drove the Dow Jones industrial average above 22,000.
The tech giant's shares surged about 5 percent after posting quarterly results that blew expectations out of the water.

Fred Imbert | @foimbert
15 Hours AgoCNBC.com

The Dow Jones industrial average notched another milestone on Wednesday, breaking above 22,000 for the first time.

The 30-stock index rose 52.32 points to close at 22,016.24 with a boost from Apple's stock, which surged 4.73 percent after posting quarterly results that blew expectations out of the water.

The company reported earnings per share of $1.67 on revenue of $45.4 billion. Analysts polled by Reuters expected earnings per share of $1.57 on revenue of $44.89 billion.

Drexel Hamilton analyst Brian White said in a note he sees more upside for the stock moving forward. He said: "[W]e believe investors will now feel more confident in owning the stock for the upcoming iPhone 8 cycle that is expected to begin this fall, while also benefitting from the company's capital distribution initiative, attractive valuation and potential new innovations."

If White's assessment is correct, that could mean further gains for the Dow as well. Entering Wednesday's session, Apple's stock was the sixth-largest in terms of price. The Dow is a price-weighted index.
Traders work on the floor of the New York Stock Exchange.

It took the Dow just 107 trading days to surge to 22,000 from 21,000. Boeing shares have had the biggest points impact on the price-weighted Dow, contributing 380.29 points since March 1, followed by McDonald's and UnitedHealth Group with 171.14 and 166.35 points, respectively.

The Nasdaq composite closed flat at 6,362.65 while the S&P 500 advanced 1.22 points to close at 2,477.57.

"We've come a long way in a very short period of time," said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management. "I think people are now focusing on the macro news, especially on the jobs report."

The three major indexes have notched record highs this year largely in part because of strong quarterly results.

"It's been a remarkable run as equity markets continue to defy expectations," said Mark Heppenstall, CIO at Penn Mutual Asset Management. "I'd say [the market] is going up for the right reason, which is earnings. That's supportive of valuations."

For calendar second quarter, 72 percent of the S&P companies that had reported as of Wednesday morning beat bottom-line expectations and 68 percent on the top line, according to data from Thomson Reuters I/B/E/S.

"We're seeing a lot of divergence in familiar places," said Anthony Conroy, president at Abel Noser. "Usually with those Apple earnings the market would be surging."

Wall Street also set its sights on key economic data. Private U.S. companies added 178,000 jobs last month, according to a report from ADP and Moody's Analytics. But economist polled by Reuters expected an increase of 185,000 jobs.

"[A]t least according to ADP, job growth still remains good and certainly better than what the BLS has said. The BLS estimate for the private sector is 180k on Friday," said Peter Boockvar, chief market analyst at The Lindsey Group, in a note.

"Either way, job growth north of 150k is still enough to put continued downward pull on the unemployment rate and Friday's estimate is for a one tenth decline to 4.3% which would match the lowest level since 2001 and more reason for [quantitative tightening] to start in September," Boockvar said.

Investors have been keeping a close eye on U.S. economic data as they look for clues on when the Federal Reserve will further tighten monetary policy. Wall Street is largely expecting the Fed to hold off on raising interest rates again until at least December, but is expecting the central bank to start rolling off its massive balance sheet next month.

U.S. Treasury yields traded mixed on Wednesday, with the benchmark 10-year yield near 2.266 percent and the two-year yield around 1.359 percent.

https://www.cnbc.com/2017/08/01/appl...wednesday.html

Wall Street set to open flat after Dow breaks 22,000; jobless claims in focus

Allergan and Kellogg are due to report before the bell
Heinz, Motorola Solutions, Viacom and Western Union will report after the bell
Jobless claims numbers will be out at 8:30 a.m. in New York

Silvia Amaro | @Silvia_Amaro
32 Mins AgoCNBC.com

U.S. stock index futures pointed to a flat open on Thursday, a day after the Dow Jones industrial average broke the 22,000 milestone for the first time ever.

Dow futures slipped 7 points, while S&P and Nasdaq futures traded 1.5 points lower and 4.25 points higher, respectively.

The 30-stock index was propelled above 22,000 largely by Apple, which had reported strong quarterly results.

Investors will once again focus on earnings after Tesla posted better-than-expected results. The stock shot up 6 percent on the news.

U.S. equities are set to take a breather while investors digest more earnings and new data releases. Allergan and Kellogg are among the companies due to report before the bell. Heinz, Motorola Solutions, Viacom and Western Union will report after the bell.

In terms of data, there will be jobless claims numbers out at 8:30 a.m. in New York, PMI Services Index out at 9:45 a.m., factory orders at 10 a.m. and Fed Balance Sheet figures at 4:30 p.m.

The U.S. dollar held at a two and a half year low against the euro on Thursday ahead of jobs data.

In oil markets, Brent was trading at flat at $52.35 and WTI at $49.59. Data out on Wednesday showed U.S. crude, gasoline and diesel inventories down in the last week as demand for gasoline hit a new high.

https://www.cnbc.com/2017/08/03/wall...-in-focus.html

This is so great!!! I would have never thought we'd get to 20,000 and now only 7 months into this administration to be at 22,000 from 18,000 at the time of the election, it's a really important indicator that American Business and Investors really do love our country and when the right policies for America First are presented and pushed, these wise people understand that this means confidence in our country, jobs in our communities and money in the bank.

And the beautiful irony is that on the day that Trump announces with Senators Cotton and Perdue, the legal immigration reductions in green cards proposed by the RAISE ACT, the Dow actually closes above 22,000 ... well, it's wonderful news and a fantastic validation of the policies of the Trump Agenda.

AMERICA FIRST!!

HIRE AMERICAN!! BUY AMERICAN!!

ENGLISH ONLY!!!

Financial analysts: Trump not responsible for Dow record


August 02, 2017 06:55 PM

ALBANY - Financial advisor Hugh Johnson says he never thought he'd see the stock market reach 22,000 in his lifetime.

"Corporations are doing well with tax cuts or without tax cuts and I think that's what's really driving the market," Johnson, of Albany's Hugh Johnson Advisors, says, "This has been about earnings. that's the reason we're doing well despite all the apparent chaos we have in U.S. public policy."

Even though about one year earlier, Donald Trump dismissed the stock market's rise under President Barack Obama as a "big bubble," now Trump is cheering as the Dow reaches unchartered territory.

"The president might say (his policies are responsible) but my position is clear," Johnson states, "It's not because of his policies, and it's certainly not because of anything he's accomplished in Washington."

A screen above the floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Wednesday, Aug. 2, 2017.

AP Photo / Richard Drew

Steven Bouchey, of the Bouchey Financial Group, concurs with Johnson.
"I don't believe Donald Trump is the reason the stock market is going up," he says, "When you look at the economy, that's what the stock market is trading on. Corporate earnings is a big part of why right now the stock market is advancing like it has, as witnessed with the earnings of Apple last night."

Both analysts are also cautioning that a correction is inevitable.

"The only thing you can predict is that sooner or later you'll get a five percent pullback in stock prices and it's not going to feel good," Johnson says.

"We've come a long way without any volatility and it's unusual," Bouchey adds, "If there is a minor correction or a bump in the road, long term investors shouldn't get worried. It comes with the territory."

http://wnyt.com/news/stock-market-22...uchey/4562011/

Would have been in a downward spiral had HRC or Bernie won.

Our borders would have been flooded with 100,000 freeloaders a month.

A wave of massive destruction across the Globe.

We have a big mess to clean up from the last 8+ years of incompetence and greed.

Oh yeah, I'm sure that's true, MW. Obama is responsible, he laid the groundwork for this huge success in American Business that's pushing earnings, values, job growth, wage increases and the stock market to historic records after Hillary lost to Trump and Obama left the White House. What a fantastic legacy for Obama. Trump of course is just riding on the wave of all the hard work performed by Democrats and Barack Obama, which just goes to show the "conservative", Republican "America First" Agenda of Donald J Trump and his Trump Supporters is pure hogwash.

We're so blessed you are here with us, MW, to keep us all straight with the MW Reality Checks.

Of course, on the other hand .......

Originally Posted by Judy

Oh yeah, I'm sure that's true, MW. Obama is responsible, he laid the groundwork for this huge success in American Business that's pushing earnings, values, job growth, wage increases and the stock market to historic records after Hillary lost to Trump and Obama left the White House. What a fantastic legacy for Obama. Trump of course is just riding on the wave of all the hard work performed by Democrats and Barack Obama, which just goes to show the "conservative", Republican "America First" Agenda of Donald J Trump and his Trump Supporters is pure hogwash.

We're so blessed you are here with us, MW, to keep us all straight with the MW Reality Checks.

Of course, on the other hand .......

Why do you have to make this personal? I didn't write the article and didn't say I agreed or disagreed with it, just posted it.

Oh it's not personal at all MW. Where would we be without you "just posting an article" claiming Trump's policies aren't responsible for anything good that happens after the election and during his first few months as President? Clearly, many of us who support Trump would be lost in our own cheer-leading, blind loyalty and Trump World Fantasies.

You save us!!

Of course, on the other hand ......