Wall Street rises, brushing off Trump impeachment
NEW YORK, United States– US stocks drifted higher at the open on Thursday, December 19, as investors mostly disregarded a House vote making US President Donald Trump the third American leader to face impeachment.
Lawmakers in Washington voted Wednesday evening along party lines, formally accusing Trump of abuse of power and obstruction.
He will now face trial in the US Senate, where Trump's fellow Republicans have control.
Investors were also digesting economic data that showed a weekly dip in claims for unemployment insurance but unexpected slowdown in manufacturing activity in the Philadelphia region.
About 10 minutes into the trading session, the main indexes edged into record territory: the benchmark Dow Jones Industrial Average and tech-heavy Nasdaq were both up 0.2% at 28,294.94 and 8,845.37, respectively.
The broader S&P 500 saw a smaller gain, rising 0.1% to 3,195.40.
Analyst Patrick O'Hare of Briefing.com said low interest rates, persistent consumer spending and relief at the apparent truce in US-China trade relations kept investors from heading for the exits. – Rappler.com