Dow Jones soars past 22,000 points as Apple shares spike

The Dow Jones Industrial Average crossed the 22,000 mark for the first time in its history on Wednesday (2 August), following a strong set of financials by technology giant Apple.

The US blue chip index, which lists 30 premier American stocks, traded 0.23% higher to reach 22,014.32 at the market open.

Apple's stock, which surged nearly 6% in the pre-market trading, soared after its results beat market expectations, rising by as much as 6.22% at one point to $159.68.

Overnight, the company reported strong sales of iPhones, iPads, and other products and services.

While issuing an upbeat forecast for its iPhone 8 handset, Apple also posted earnings per share of $1.67 on revenue of $45.4bn (£34.3bn), beating market expectations in the $44bn range.

It has taken the Dow just a little over five months to jump to 22,000 from 21,000, and register a growth of nearly 11% since the start of the year, based on strong corporate earnings overall.

According to Reuters' data, Boeing shares have made the most impact on the price-weighted blue chip index, contributing 380.29 points since 1 March, followed by McDonald's and UnitedHealth Group with 171.14 and 166.35 points respectively.