Trump impeachment doesn't stop Dow from booking 10,000th point since election
U.S. stocks secured another day of records
The Dow Jones Industrial average closed at record highs Thursday and finished up by more than 10,000 points for the first time since President Trump's election win in the first session 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 137 points, or 0.5 percent, to 28,376. It needed to finish above 28,332.74 to close up by more than 10,000 points since Trump's election win on Nov. 8, 2018. The Dow first traded above the 10,000-point mark on Monday, but had not yet closed above the mark.
The S&P 500 and Nasdaq also finished in record territory gaining 0.4 percent and 0.7 percent, respectively. The Nasdaq's gains propelled the index to its seventh record close in a row.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43870.35 | +461.88 | +1.06% |
| SP500 | S&P 500 | 5948.71 | +31.60 | +0.53% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18972.420086 | +6.28 | +0.03% |
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.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| IAC | IAC INC. | 47.73 | +0.01 | +0.02% |
| MTCH | MATCH GROUP INC. | 31.50 | +1.09 | +3.58% |
Tesla gained for the eighth time in 10 days and has rallied more than 20 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.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 339.64 | -2.39 | -0.70% |
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.
Rite Aid posted its biggest gain since October 2015 after reporting a third-quarter profit of $51.5 million, up from a loss of $4.5 million a year ago. The pharmacy chain also raised its fiscal-year 2020 adjusted earnings per share forecast to between 13 cents and 55 cents, better than its previous outlooks of flat to 56 cents.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DRI | DARDEN RESTAURANTS INC. | 164.56 | +1.97 | +1.21% |
| RAD | NO DATA AVAILABLE | - | - | - |
Commodities gained with gold up 0.3 percent at $1,483 an ounce and West Texas Intermediate crude oil higher by 0.2 percent near $61 a barrel.
U.S. Treasurys ticked higher, pushing the yield on the 10-year note down 1 basis point to 1.91 percent.
In Europe, Britain's FTSE led the way, up 0.4 percent. France's CAC added 0.2 percent while Germany's DAX slipped 0.1 percent.
Overnight, Hong Kong's Hang Seng and Japan's Nikkei both lost 0.3 percent.