- Title: Dow ascends to record, nears 22,000
- Date: 1st August 2017
- Summary: NEW YORK, NEW YORK, UNITED STATES (AUGUST 1, 2017) (REUTERS) (SOUNDBITE) (English) FAO ECONOMICS CHIEF ECONOMIST, ROBERT BRUSCA, SAYING: "It's a traditional rally. I think its earnings. You know, the earnings are doing well. Corporations are kind of surprising people in this low-economic growth climate. They've been able to put up earnings numbers."
- Embargoed: 15th August 2017 21:23
- Keywords: Dow Jones Industrial Average approaching 22 000 record high earnings Apple earnings
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA0026SBSLU5
- Aspect Ratio: 16:9
- Story Text: The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday (August 1) and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks.
Apple rose 0.89 percent as Wall Street awaited the largest publicly listed company's quarterly report after the bell, with the iPhone maker expected by analysts to post a 6-percent rise in revenue.
The Dow has risen 11 percent in 2017, even as Wall Street loses confidence that U.S. President Donald Trump and a Republican-controlled Congress this year will cut taxes and increase spending on infrastructure.
The Dow rose 0.33 percent to a record-high close of 21,963.92. It pierced through the 20,000 milestone in January and the 21,000 mark barely one and a half months later.
The S&P 500 gained 0.24 percent to 2,476.35 and the Nasdaq Composite added 0.23 percent to 6,362.94.
- Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None