NEW YORK – Wall Street stocks finished a choppy session mostly higher as Intel rallied on an executive shakeup, while investors monitored a debate on impeaching United States President Donald Trump.
Investors largely shrugged off the happenings in Washington, where Trump was impeached for the second time in a House vote that finished after the market closed.
The Federal Reserve said most regions of the US reported “economic activity increased modestly”, and employment rose, albeit slowly, while housing sales remained strong and manufacturing stayed on an upward trajectory.
The Dow Jones Industrial Average ended down less than 0.1% at 31,060.47.
The broad-based S&P 500 added 0.2% at 3,809.84, while the tech-rich advanced 0.4% to 13,128.95.
Markets remain near all-time highs as investors bet on an improving 2021 economy in anticipation of more US stimulus once Joe Biden is inaugurated as president.
“The market isn’t too worries about politics right now,” said Meeschaert Financial Services president Gregori Volokhine.
“The page on Donald Trump’s presidency is turning, even if there is still controversy over him.”
Shares of Intel surged 7% as the chipmaker named VMware head Pat Gelsinger as its new chief executive, replacing Bob Swan after pressure from activist investors. VMware fell 6.8%.
Target fell 1.2% as it reported a 17.2% jump in comparable sales growth for the key holiday shopping season. – AFP, January 14, 2021
