Stock Market Update Thursday, December 19th, 2019
A Presidential impeachment? No problem!
Last night, President Trump became the third U.S. President in history to be impeached by the House. But traders don’t seem to care.
Shaking off the news, stocks rallied without a care in the world and finished at new record highs.
The major indices rallied pretty much all day long. There was a pull back in the last hour of trading. But a final push in the last 15 minutes of trading helped the major indices end the day near session highs.
With today’s gains the NASDAQ finished higher for the 7th day straight. And the S&P traded above 3,200 for the first time ever!
Here’s where the major indices ended the day:
- The S&P finished with a 0.5% gain. Up 14 points, the S&P ended at 3,205.
- The DOW ended higher by 0.5%. Adding 138 points, the DOW closed at 28,377.
- The NASDAQ was up 0.7%. With a 57 point gain, the NASDAQ finished at 8,887.
Crude Oil (CL) rallied past the $61 mark and finished the day with its best close since September 16th. Up 0.6%, CL ended the day at $61.30.
Cisco (CSCO) and 3M (MMM) were the best performers in the DOW today with gains of 2.7% and 1.9% respectively.
And in earnings news, Micron (MU) jumped 2.8% on better than expected numbers.
Stocks are currently in the longest bull run ever. And here’s an interesting stat…for the first time ever, the U.S. economy started and ended an entire decade without entering a recession.
Put another way, the U.S. economy has expanded for a record 126 months (according to the National Bureau of Economic Research).
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
This Stock Market Update was provided by Rockwell Trading Services LLC.