The Dow Jones Industrial Average climbed above the 22,000 mark on Wednesday for the first time ever. The benchmark index of New York Stock Exchange (NYSE) took 107 trading sessions from 21,000 level and 131 trading session from 20,000 to breach the highly awaited 22,000. The Dow index upsurge was mainly buoyed by the heavyweight stock Apple which recently reported strong Q3 earnings.
The shares of the market cap leader rose as much as 4.73% to hit the lifetime high of $157.14 after the world’s largest listed company reported a rise of 11.79% in the net income to $8.72 billion, i.e., $1.67 per share for third quarter of the FY 2017, from $7.8 billion, or $1.42 per share, a year earlier in the same quarter.
We take a look at five companies which contributed the most in Dow Jones index’s climb to 22K from 21K:
The world’s largest aerospace company and manufacturer of commercial jetliners, defence, space and security systems have contributed the most – 370 points – in the Dow Index. The stock of Boeing has gained $54.04 since Dow’s 21,000 points.
Shares of the quick service fast food and hamburger restaurant chain have contributed close to 188 points in the Dow index to push it beyond 22,000 points. The stock of McDonald’s has gained $27.54 since the index level of 21,000 points.
A distinctively diversified health and well-being company’s shares have contributed nearly 171 points in the benchmark index which helped it to reach 22,000. The stock of UnitedHealth Group has gained $25.06 from the time the index was at 21,000 points.
The iPhone maker and the leading provider of gadgets with its unique and innovation driven technology also made it to the list. The rally was helped by Apple shares which stood at fourth place in point-wise contribution. It has added close to 118 points in the Dow rally from 21,000 to 22,000 points. The stock of Apple has gained $17.35 from the 21,000 Dow levels.
Shares of 3M have contributed 106 points to the Dow Jones index from 21,000 points. Formerly known as Minnesota Mining and Manufacturing Company, is an American multinational conglomerate which produces more than 55,000 consumer durable products. The stock of 3M has gained $15.55 from the 21,000 point level of the index.
The Dow Jones Industrial Average rose 0.24% to end at 22,016.24 points, a record high. Earlier during late January this year, the Dow hit the 20,000 level and crossed the 21,000 mark on March 1.
US President also seemed exuberant about the stock market and tweeted this: