Nasdaq, S&P rise as House prepares for second Trump impeachment

The shares flirted with records on Wednesday, but fell short as the House of Representatives prepared for a second impeachment of President Trump.

The Dow Jones Industrial Average closed down 8 points, or 0.03%, while the S&P 500 was up 0.23% and the Nasdaq Composite was 0.43%.

The mixed session came as Democrats in the United States House of Representatives were preparing their arguments for a second impeachment of President Trump, which was to go primarily through parties.

A Senate trial will not begin until at least Jan. 19, a day before President-elect Joe Biden’s inauguration, when the Upper House reconvenes, the office of Republican Majority Leader in the Senate, Mitch McConnell, said. , to the leader of the Democratic minority Chuck Schumer, according to The Washington Post. McConnell said in a statement he had not decided how he would vote.

In stock, Intel CEO Bob Swan will step down on February 15 and be replaced by Pat Gelsinger, an executive at VMWare Inc. Intel has also said it expects profits and revenues from the fourth quarter beat previously released guidance, helping to send stocks to their best light since April.

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Elsewhere, Johnson & Johnson are set to submit their COVID-19 vaccine candidate for European Union approval in February, a European lawmaker said.

Elsewhere, Target Corp. said comparable store sales were up 17.2% year-over-year in November and December, with online sales more than doubling. The home and hard products categories both saw growth of around 20%.

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The actions of GameStop Corp. climbed to 94% before retreating into what appeared to be a short rally. The short interest in the stock had reached 138% of the shares outstanding.

In deals, Visa Inc. and fintech firm Plaid called off their $ 5.3 billion merger after the US government filed an antitrust complaint to stop the deal.

Meanwhile, Exxon Mobil Corp. was upgraded to “buy” by JP Morgan, who said increased investor pressure and plans to cut capital spending are among the factors that will produce “more consistent results”.

On the commodities front, West Texas Intermediate crude oil fell 30 cents to $ 52.91 per barrel and gold climbed $ 10.70 to $ 1,853.60 per ounce.

In economic data, mortgage refinancing rose 20% from the previous week as Americans sought to lock in near record rates.

In addition, the consumer price index rose 0.4% month over month in December, in line with expectations and up from a 0.2% increase the month before. Prices have increased by 1.4% per year.

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European markets were little changed with the French CAC 40 up 0.21% and the British FTSE 225 down 0.13%.

Asian markets ended mixed, with Japan’s Nikkei 225 rising 1.04%, while Hong Kong’s Hang Seng index and China’s Shanghai Composite index fell 0.15% and 0.27% , respectively.