Markets Right Now: Dow has its first close above 22,000

The latest on developments in financial markets (All times local):

4:00 p.m.

The Dow Jones industrial average closed above 22,000 points for the first time, driven by a big gain in Apple on an otherwise mixed day for the market.

Health care and household goods companies fell Wednesday. Prescription drug distributor Cardinal Health dropped 8.2 per cent.

Movie theatre companies plunged after AMC Entertainment gave a weak profit forecast amid a sluggish summer at the box office. AMC slumped 27 per cent.

HERE'S WHAT TO KNOW

Summer pool hours extended and discounts applied as Big Marble Go Centre upgrades start

Apr 18, 2024

Medicine Hat company drawing in clients with witty signage

Apr 16, 2024

Medicine Hat College holding event for missing and murdered Indigenous women awareness day

Apr 16, 2024

The Dow Jones industrials rose 52 points, or 0.2 per cent, to 22,016. The move was almost entirely due to the jump in Apple’s stock.

The broader Standard & Poor’s 500 index edged up 1 point, less than 0.1 per cent, to 2,477. The Nasdaq edged down less than a point to 6,362.

More stocks fell than rose on the New York Stock Exchange.

___

11:45 a.m.

A big earnings gain from Apple is sending the Dow Jones industrial average above 22,000 points for the first time, but otherwise stocks are mostly lower.

Apple soared 5 per cent in midday trading Wednesday, accounting for all of the Dow’s gain. Apple reported another solid quarter and released a strong forecast late Tuesday.

Other industries mostly fell, led by drops in health care and household goods companies. Prescription drug distributor Cardinal Health plunged 9.6 per cent.

Movie theatre companies fell sharply after AMC Entertainment gave a weak forecast. AMC’s stock sank 24 per cent.

The Dow Jones industrials rose 45 points, or 0.2 per cent, to 22,010.

The broader Standard & Poor’s 500 index fell 4 points, or 0.2 per cent, to 2,472. The Nasdaq composite lost 24 points, or 0.4 per cent, to 6,338.

___

9:35 a.m.

A big earnings gain from Apple is sending the Dow Jones industrial average above 22,000 points for the first time.

Apple soared 6 per cent in the first few minutes of trading Wednesday, accounting for all of the Dow’s gain. Apple reported another strong quarter and released a strong forecast late Tuesday.

Drugmaker Illumina jumped 12 per cent after beating its earnings forecasts and issuing a strong outlook.

The Dow was up 68 points, or 0.3 per cent, to 22,031.

The Standard & Poor’s 500 index rose 2 points, or 0.2 per cent, to 2,478.

The Nasdaq composite increased 25 points, or 0.4 per cent, to 6,388.

The Associated Press