Dow has its first close above 22000


World stock markets fell on Wednesday even as Wall Street's key Dow Jones Industrial Average .DJI broke the 22,000 barrier on strength in Apple shares, while the USA dollar fell to near 15-month lows on doubts about another rate hike this year. Honkamp Krueger Financial Services Inc. boosted its position in SPDR Dow Jones Industrial Average ETF by 6.7% in the second quarter. It is up 236% since its bear market low of 6547.05, which means a $10,000 investment would be worth $33,600 now. The lowest was CAC40, which dropped by nearly 0.8% to 5093.77 points. Nasdaq 100 futures pointed to a 0.68 percent gain at Wednesday's open.

Weakening dollar: Many of the Dow's components have large worldwide operations. It's been almost 400 trading days since the S&P 500 suffered a 5% decline, the longest streak since 1996, according to Bespoke Investment Group.

Benchmark U.S. crude added 43 cents to close at $49.59 a barrel in NY.

USA stocks ended mixed for the last week as investors digested a batch of corporate earnings reports and the latest Federal Reserve announcement after its monetary policy meeting. That's how it is supposed to work, he adds. It expects to report a loss when final results come out next week. That's because it makes their products more affordable when purchased with stronger currencies. The Federal Reserve official were also not sure of themselves, at least from the early FOMC meeting, over whether or the economy is strong enough to start a wind down of its debt hoard from the QE program.

Hedge funds have recently made changes to their positions in the stock. "The big news was about the production of iPhone 8, the flagship product for the firm will hit the market on time with no issues around production".

"I don't think it foretells the next leg of the market", says Bell.

British Gas to raise electricity prices by 12.5%
It's half year results also revealed a loss of more than 377,000 United Kingdom customer accounts in the first half of 2017. British Gas today announced a 12.5 per cent hike in electricity prices from next month in a direct snub to the Government.

"People shouldn't get mesmerized by Dow 22,000", he said.

The market reacted little to news that U.S. President Donald Trump's communications director, Anthony Scaramucci, was leaving the job after little over a week, the latest staff upheaval to hit the Republican's six-month-old presidency. Potential budgetary gridlock in coming months could also spook investors.

The Dow rose 0.33per cent to a record-high close of 21,963.92.

Other tech stocks also gained in extended trading with Alphabet, Netflix and Amazon shares all higher.

The stock traded 2.3 percent higher at US$43.14 as of 2.29pm in NY, after earlier rising as high as US$43.69.

A close at or above that level today would reportedly be the eighth fastest move to a 1,000-point milestone for the Dow at 109 trading sessions.


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