Stocks roar past Trump impeachment to new records

Wall Street sign

Enlarge Image REUTERS

With less than two weeks left in 2019, the S&P 500 is up 28.5 percent for the year.

In response, Trump said he is looking forward to maintaining regular communication with Xi by various means, adding he is confident that both countries can properly handle differences, and U.S.

The Dow Jones Industrial Average .dji rose 131.66 points, or 0.47%, to 28,370.94, the S&P 500 .spx gained 13.92 points, or 0.44%, to 3,205.06 and the Nasdaq Composite .ixic added 53.17 points, or 0.6%, to 8,880.91.

The major stock indexes climbed to record highs late last week as investors welcomed news that the USA and China had taken steps to de-escalate their trade conflict.

The S&P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 134 new highs and 41 new lows.

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But EMEA is growing as gangbusters by comparison, 40% more than the previous year compared to just 6.5% growth in the US. Netflix detailed how big it is, region by region, outside the United States for the first time on Monday.

For now, at least, the pact has helped ease a key source of uncertainty for investors heading into next year.

By that measure, the S&P 500 has gained 5.5% since the end of October, the Dow has climbed by about 4.9%, and the Nasdaq has surged 7% over the same period, close to the 7.48% average return seen by the index when it finishes the 10th month of the year as solidly as it did.

More good news arrived on Friday with a report showing that U.S. households have continued to spend amid a healthy job market.

US stocks were set to open almost unchanged from record highs on Friday as investors stayed optimistic that Washington and Beijing would sign a long-awaited trade treaty early in the new year.

"Nothing gets people back in like a rising market", Mr. Slimmon said.

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Wall Street's three main indexes hit fresh all-time highs at the opening bell on Friday as investors seem to be reacting positively to the Gross Domestic Product (GDP) data from the US.

Investors continue to shake off Wednesday's impeachment vote by the Democratic Party controlled House, amid expectations that the Republican-controlled Senate will vote against removing Trump and House Speaker Nancy Pelosi on Tuesday threatened to delay submitting the articles of impeachment to the Senate.

The Nasdaq climbed 190.08 points, or 2.2%.

Health care companies makers of household goods also notched solid gains.

Benchmark crude oil lost 25 cents to $60.93 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil, the global standard, slid 40 cents to close at $66.14 a barrel. Heating oil declined 1 cent to $2.02 per gallon.

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Boeing Co's biggest supplier, Spirit AeroSystems Inc dropped 1.4% after saying it would temporarily halt production of 737 MAX parts beginning January 1. The euro weakened to $1.1115 from $1.1147.

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