Dow tops 22,000 points for the first time ever


Right after Wednesday morning's opening bell, the Dow Jones industrial average topped 22,000 points for the first time ever. The roughly 0.2 percent overall surge was spurred by big gains from Apple, which posted a 6 percent bump based on optimism about the upcoming iPhone that brought the company to a record high.
On Tuesday, President Trump tweeted about the impending milestone, noting the "stock market could hit [an] all-time high (again) ... was 18,000 only six months ago." If the Dow closes Wednesday's trading up, it will be the average's sixth straight record day, and the 49th such day since Trump was elected. The Dow is up more than 3,600 points since Election Day.
"The market has shattered records despite Trump's political troubles," CNN Money notes, "suggesting they are no longer intertwined.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kimberly Alters is the news editor at TheWeek.com. She is a graduate of the Medill School of Journalism at Northwestern University.
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate