The Dow Jones Industrial Average broke the 22,000 milestone for the first time as shares of Apple soared following strong quarterly earnings. Now President Trump is cheering as the Dow reaches 22,000 for the first time. The Dow turned sharply up right after the election and has risen 23 percent since then.
Apple on Tuesday reported better-than-expected third-quarter results and indicated that its upcoming 10th-anniversary iPhone lineup was on schedule.
United States stocks have risen to a succession of records over the last couple of weeks as second-quarter earnings have broadly bested expectations.
Naeem Aslam, chief market analyst at Think Markets in London, said the Dow milestone was "a remarkable thing for investors. but at the same time, this could also be a trap if the momentum does not follow". "The firm comfortably topped its forecast and produced stellar numbers for its revenue and profit".
This also means that it has to keep out companies that have very high share prices until they bring them down by issuing more stock.
Warning signs: At MoneyWatch, Anthony Mirhaydari is anxious about weak economic fundamentals in regard to personal income growth, manufacturing, U.S. auto sales, consumer sentiment, and more.
Disappointment in the banking sector, however, held Europe back.
Wall Street's record-shattering performance is a bright spot for an administration mired in legislative failure and internal turmoil.
In currency markets, the dollar index was stuck at just under 93, after touching 92.777, the lowest since early May 2016.
The dollar rose to 110.61 yen from 110.30 yen. But Apple's revenue estimate was better than expected and greater than past year, when the iPhone 7 was released.
The evening news shows minimized the "historic run" and new record highs between January 20, and August 1, by giving them little attention, undermining the good news or not providing enough information.
The European Central Bank, which is buying 60 billion euro ($71 billion) bonds per month to shore up euro zone economies, is expected to unveil a plan to wind down the asset purchase programme in coming months.
"As always, investors are unnerved by goings on in the White House but, by the looks of it, we would need to see a major scandal break before traders get spooked". AutoNation shares dropped. Profit fell at the U.S.' largest auto retailer.
The stock market barometer closed Tuesday at an all-time closing high of 21,963 points.