Nasdaq, Dow Jones hit record highs after House impeaches Trump

Two major stock indexes set new records and a third was close the morning after the U.S. House of Representatives voted to impeach President Trump. The chamber acted mostly along party lines, with only a few Democrats switching sides, to back charges of obstruction of Congress and abuse of power.

The Dow Jones Industrial Average rose 0.3 percent to 28,335, in morning trading, as did the Nasdaq, both touching all-time highs. The S&P 500 gained 0.2 percent.

IAC announced plans to spin-off Match Group, sending shares of both companies higher. IAC shareholders will retain ownership of Match Group after the separation, and receive an additional $3 a share cash.

Tesla was on track for its eighth gain in 10 days, having rallied by more than 19 percent over that time. Short-sellers have now lost more than $2 billion betting against the stock this year, according to data from the financial analytics firm S3 Partners.

Looking at earnings, Darden Restaurants said its second-quarter profit plunged 77.2 percent to $24.7 million due to a charge related to its defined benefit pension plan.

Commodities were little changed, with gold up 0.1 percent at $1,481 an ounce and West Texas Intermediate crude oil higher by 0.1 percent at $60.90 a barrel.

U.S. Treasurys traded flat, with the yield on the 10-year note holding at 1.93 percent.

Fox Business

One response

  1. Impeachment Is Hogwash! Impeachment Is Crap! Impeachment Is Hor$e$h*t! And Impeachment Is Demorat Making Up Of!

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