Dow Approaches 22000, Closes at Record High

File The Dow struck a record high on Monday

File The Dow struck a record high on Monday

The Dow Jones Industrial Average has risen 64.87 points, or 0.3%, to 21,955.99 at 9:44 a.m. this morning, just 44 points away from 22,0000.

U.S. stocks are off to a positive start for August, with the Dow Jones Industrial Average (NYSEARCA:DIA) fast approaching 22,000 amid positive corporate earnings.

The milestone comes in a year of strong corporate profits, which have driven the Dow up 11 percent this year.

According to Thomson Reuters data, US corporations are expected to report a second straight quarter of double-digit earnings growth, the first such streak since 2011. (AAPL) surged following its strong earnings report.

Automaker Ford fell 2.41per cent and General Motors lost 3.39per cent after they reported lower monthly sales. The iPhone maker's shares were up 0.25%.

Moves in European stocks followed several economic data releases in the region.

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But Cleveland Fed President Loretta Mester said the Fed should remain focussed on gradually tightening US policy because one-off factors, not a long-lasting trend, have caused inflation to weaken in recent months. SPDR Dow Jones Industrial Average ETF comprises about 1.8% of Mechanics Bank Trust Department's holdings, making the stock its 13th largest position. Hong Kong's Hang Seng Index climbed 0.57%. In contrast, Monday's government reading slowed slightly.

Tech stocks on the Nasdaq also got up again and the Nasdaq gained over 17 at 6,365 - to be near a record high.

The earnings boom has helped fuel a series of records in the last couple of weeks for all three major USA stock indices, which also includes the tech-heavy Nasdaq.

Oil was on the slide however, down 1.99% to $49.10 a barrel. Investors of record on Tuesday, July 25th will be paid a dividend of $0.2357 per share.

S&P 500 measures the performance of 500 widely held common stocks of large-cap us companies.

The Canadian dollar remained above the 80-cent U.S. mark, trading at an average price of 80.10 cents USA, though that was down 0.24 of a cent. Across the Korean strait, South Korea's Kospi edged up 0.18%. Its stock was down 0.24%. Earnings from index heavyweight Apple Inc.are due later Tuesday. The CBOE VIX nudged down 0.3% to 10.26.

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