Stocks Opened Higher; Dow Hit 22,000

U.S. stocks opened slightly higher on Wednesday, with the Dow Jones Industrial Average topping the 22,000 milestone as Apple Inc. traded at record in the wake of its latest quarterly results. The Dow lately rose 36.10 points, or 0.16%, to 22,000.02. The S&P 500 edged down 1.77 points, or 0.07%, to 2,474.58. The Nasdaq Composite gained 9.43 points, or 0.15%, to 6,372.37.

Apple Inc. turned in stronger-than-expected quarterly earnings and iPhone sales met expectations. The iPhone maker reported fiscal third-quarter earnings of $8.72 billion, or $1.67 a share, compared with $7.8 billion, or $1.42 a share, a year earlier.

Private sector hiring remained strong in July as employers added 178,000 jobs ADP reported Wednesday. Economist polled by Econoday had forecast a July gain of 173,000 jobs compared with an original reported increase of 158,000 in June. On Wednesday, ADP revised June’s gain to 191,000.

Crude oil futures swung between small gains and losses on Wednesday ahead of a closely watched report on U.S. oil supply that could add to recent fears that measures by major oil producers to balance the market aren’t working. Light, sweet crude futures for delivery in Septemberwere down 11 cents, or 0.2%, at $49.04 a barrel. October Brent crude shed 1 cent to $51.77.