Stocks tick higher after Pelosi says House will forge ahead with impeachment
Trump's actions 'seriously violated the Constitution,' House Speaker says
Stocks ended with small gains Thursday despite House Speaker Nancy Pelosi saying the U.S. House of Representatives will bring articles of impeachment against President Trump.
"The president's actions have seriously violated the Constitution," she said. "His wrongdoing strikes at the very heart of our Constitution."
All three of the major averages closed higher with the Dow Jones Industrial Average up 28.01 points, or 0.1 percent. The S&P 500 and Nasdaq Composite were higher by 0.2 percent and 0.1 percent, respectively. On Wednesday, the major indexes all snapped their three-day losing streaks amid trade talk optimism.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
General Motors and South Korea's LG Chem announced Thursday they would invest $2.3 billion in an electric-vehicle battery joint venture in Ohio.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 55.49 | +0.70 | +1.29% |
United Airlines slipped after announcing CEO Oscar Munoz will move to the role of executive chairman, ceding his former job to J. Scott Kirby, the air carrier's president.
Macy's shares rallied following the news that Hal Lawton, president of its brand business, has resigned to take the reins at the retail farm store Tractor Supply.
Elsewhere, Peloton slumped for a third straight day following the release of its controversial holiday ad.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UAL | UNITED AIRLINES HOLDINGS INC. | 97.44 | +0.61 | +0.63% |
| M | MACY'S INC. | 16.94 | +0.67 | +4.12% |
| TSCO | TRACTOR SUPPLY CO. | 290.27 | +6.60 | +2.33% |
| PTON | PELOTON INTERACTIVE INC. | 9.55 | -0.79 | -7.64% |
On the earnings front, Tiffany & Co. was little changed after reporting a third-quarter profit of $78 million, down 17 percent from a year ago. Revenue came in at $1.01 billion, little changed from last year.
Dollar General announced better-than-expected results and raised its full-year profit outlook, sending shares higher.
Signet Jewelers reported a smaller-than-expected loss and boosted its annual earnings and revenue guidance.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TIF | NO DATA AVAILABLE | - | - | - |
| DG | DOLLAR GENERAL CORP. | 77.27 | +1.01 | +1.32% |
| SIG | SIGNET JEWELERS LTD. | 100.20 | +0.22 | +0.22% |
West Texas Intermediate crude oil fell 0.1 percent ahead of OPEC's decision on production. Gold was unchanged at $1,480 an ounce.
U.S. Treasurys were under modest selling pressure, running the yield on the 10-year note up 3.8 basis points to 1.819 percent.
In Europe on Thursday, France's benchmark CAC 40 finished flat while Germany's DAX and Britain's FTSE both fell 0.7 percent.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Japan's Nikkei gained 0.7 percent, Hong Kong's Hang Seng was up 0.6 percent and the Shanghai Composite rose 0.7 percent.
FOX Business' Ken Martin and The Associated Press contributed to this report.