Markets Right Now: Apple gain sends Dow Jones above 22000

Wall Street retreats after Dow breaches 22000

Stocks rose at the opening bell on Wednesday, led by a jump in shares of Apple (AAPL), which reported its second-best revenue in the company's history.

In commodities, oil prices declined sharply on Tuesday.

The S&P 500 information technology index is up 22 percent year to date, leading other sectors.

Nearly exactly a year ago, Donald Trump dismissed the stock market's rise under President Barack Obama as a "big bubble".

As of about 1 p.m. EDT, the Dow was trading at about 21,980 points.

Rory McIlroy has reportedly fired long-time caddie JP Fitzgerald
This morning's news comes just weeks after Phil Mickelson ended his relationship with caddie Jim "Bones" Mackay after 25 years. McIlroy has 13 career PGA Tour wins, but has not claimed victory at an event since the Tour Championship in September 2016.

Michael Hewson, chief market analyst at CMC Markets UK, said: "US investors have continued to turn a deaf ear to the ongoing political intrigue unfolding in Washington DC [and] for now the direction of travel continues to remain positive". He raised his 2018 sales and earnings estimates on Apple. Parsec Financial Management Inc. now owns 1,165 shares of the company's stock worth $248,000 after buying an additional 5 shares in the last quarter. Companies that have reported so far have posted around 11% growth in earnings per share from the same quarter a year earlier, a higher figure than Wall Street anticipated entering reporting season.

While most company results this quarter are supporting the case for a firm global economy that's propelling equity gauges to new highs, questions remain about how long the rally can run amid stretched valuations and mixed USA data.

At 9:35 a.m. ET (1335 GMT), the Dow Jones Industrial Average was up 47.63 points, or 0.22 percent, at 22,011.55, the S&P 500 was up 1.83 points, or 0.07 percent, at 2,478.18.

The Nasdaq Composite was up 16.49 points, or 0.26%, at 6,364.61.

But Apple's gains were not enough to prop up the broader USA stock indexes, with the benchmark S&P 500 and Nasdaq both lower.

White House Taps Kansas Governor To Be Religious Freedom Ambassador
Under the new law, Brownback said religious student groups could "establish religious beliefs as qualification for membership". From his official Twitter account, the governor tweeted that he is honored to be considered for the position.

According to the Energy Information Administration, the DoE's statistical arm, commercial U.S. crude oil inventories shrank by 1.5m barrels during the week ending on 28 July, instead of by the 2.96m barrels expected by analysts. Economists polled by Reuters expected an addition of 185 000 jobs.

Another great tech company managed to beat most forecasts and expectations; Apple manages to continue with massive expectations beat with its quarterly performance and overall fiscal performance for the past years now.

Shares of Archer Daniels Midland climbed after the United States agricultural merchant reported better-than-expected earnings, bolstered by margins on sweetener and starches as well as on corn ethanol.

Declining issues outnumbered advancers on the NYSE by 1 403 to 999. US West Texas Intermediate (WTI) futures fell $1.35, or 2.7%, to $48.82 a barrel.

Sen. Cory Gardner's bad votes on Obamacare repeal and replace
He walked onto the Senate floor to a standing ovation, offering a critically needed vote to help Republicans break the deadlock. Their "no" votes signaled that the so-called "clean repeal" bill did not have the support from key Republican senators.

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