FINANCIAL MARKETS

NEW YORK—Being the world’s most valuable public company has its privileges, like getting almost all the credit for the latest stock market milestone. Apple made its biggest jump in six months Wednesday, helping send the Dow Jones industrial average above 22,000 points for the first time.

Apple’s latest profit and revenue were better than analysts expected, and the company’s strong sales forecast suggests it’s confident the next iPhone will reach the market on time. The technology giant’s stock climbed to an all-time high, and when some other technology companies, utilities and industrial firms joined it, that was just barely enough to take the Standard & Poor’s 500 index higher as well.

The Dow average rose 52.32 points, or 0.2 percent, to 22,016.24. Apple was responsible for 48 of those points.

The Standard & Poor’s 500 index, a much broader market measure used by most professional investors, added 1.22 points, or less than 0.1 percent, to 2,477.57.

The Nasdaq composite inched down 0.29 points to 6,362.65. The Russell 2000 index of smaller-company stocks shed 15.43 points, or 1.1 percent, to 1,412.90. Apple climbed $7.09, or 4.7 percent, to $157.14. That was the first time it set a record high in almost three months. Its stock had slipped recently in part because some investors were worried that production problems would delay the launch of the next iPhone, which would have hurt the company’s fourth-quarter sales. But Apple’s revenue estimate was better than expected and greater than last year, when the iPhone 7 was released.

Retailers also stumbled, which hurt smaller, U.S.-focused companies. Big 5 Sporting Goods reported a weak profit and sales that fell short of analysts’ forecasts. Big 5 said sales of firearms, camping and water sports equipment fell, and its estimates for the current quarter fell short of Wall Street’s estimates. Its stock shed 85 cents, or 7.8 percent, to $10.10.

Benchmark U.S. crude added 43 cents to close at $49.59 a barrel in New York. Brent crude, the international standard, picked up 58 cents to close at $52.36 a barrel in London. In other energy trading, wholesale gasoline fell 2 cents to $1.64 a gallon, heating oil rose 2 cents to $1.66 a gallon and natural gas held steady at $2.81 per 1,000 cubic feet.