Apple contributes to the move higher today
The Dow (the most narrow measure of the US stock market), closed above 22,000 for the first time on record and recorded the 6th record close in a row.
The index - comprised of the 30 largest industrial stocks in the US - was led by Apple which moved sharply higher after better than expected earnings and forecasts after the close yesterday. Apple rose by 4.73% today and was responsible for most of the gain today.
The Dow is closing at 22,016.24, up 52.32 points or 0.24%. The high reached 22036.10. The low extended to 21967.46
The broader indices are ending the session little changed.
- The S&P index is closing up 1.22 points or 0.05% at 2477.57. The high reached 2480.38. The low 2466.48
- The Nasdaq is ending the session unchanged (well down -0.293 points). The high reached 6394.11. The low moved to 6313.426.
In after hour trading Tesla revenues and earnings beat estimates.
- Revenues came in at 2.79B vs 2.51B estimate.
- The EPS came in at -$1.33 vs -$1.82 estimate.
- The company has $3B of cash in the war chest.
The stock is trading up $17.73 to $337.21 in after hours trading. They are the latest big name company to announce a beat. Although at -$1.33 EPS, they don't have the profits that Apple had 24 hours ago.
