President Trump says the booming stock market has added more than $12 trillion to our nation’s wealth.
Stocks opened in record territory Thursday following the Senate’s acquittal of President Trump and China announcing plans to lower tariffs on U.S.-made goods.
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The S&P 500 and Dow Jones Industrial Average were trading in record territory while the Nasdaq Composite was just below its own peak.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SP500 | S&P 500 | 3341.49 | +6.80 | +0.20% |
| I:DJI | DOW JONES AVERAGES | 29285.87 | -4.98 | -0.02% |
| I:COMP | NASDAQ COMPOSITE INDEX | 9523.676811 | +14.99 | +0.16% |
Trump was acquitted on both articles of impeachment late Wednesday, in a vote that was mostly along party lines.
Early Thursday, Beijing announced it will be reducing tariffs on $75 billion of U.S. imports in response to the U.S. taking similar action. The tariffs reductions were part of the phase one trade deal that was announced last month. Also out Thursday, China’s National Health Commission said more than 28,000 people have been sickened and 563 killed by the coronavirus outbreak.
Looking at stocks, Tesla remains in focus after shares plunged 17.2 percent Wednesday, making for their second-biggest drop on record.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 699.59 | -35.11 | -4.78% |
On the earnings front, Twitter shares rallied after the company’s quarterly revenue hit $1 billion for the first time, and user growth topped estimates.
Peloton was under pressure after the maker of high-tech exercise bikes reported slowing sales growth and forecast fiscal third-quarter revenue below Wall Street expectations.
Specialist Peter Giacchi, right, calls out prices on the floor of the New York Stock Exchange, Wednesday. (AP Photo/Richard Drew)
Dunkin’ Brands said fourth-quarter same-store sales were boosted by a shift in customer preferences to higher-priced coffees and the successful launch of its Beyond Meat breakfast sandwich.
Yum Brands slumped as sliding sales at its Pizza Hut unit weighed.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | TWITTER INC. | 38.05 | +4.66 | +13.96% |
| PTON | PELOTON INTERACTIVE | 29.78 | -2.92 | -8.93% |
| DNKN | DUNKIN BRANDS GROUP | 74.75 | -2.47 | -3.20% |
| YUM | YUM! BRANDS | 102.47 | -4.31 | -4.04% |
Casper Sleep Inc. priced its initial public offering at $12 a share, the low end of its range, valuing the company at about $470 million, or about half of what was expected one year ago.
Looking at commodities, gold was up 0.5 percent at $1,570 an ounce and West Texas Intermediate crude oil little changed at $50.75 a barrel after Russia rejected OPEC members’ attempts to cut supply in response to the coronavirus outbreak.
U.S. Treasurys edged up, pushing the yield on the 10-year note down 1 basis point to 1.639 percent.
In Europe, Britain’s FTSE, Germany’s DAX and France’s CAC were all up 0.7 percent.
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Markets surged across Asia with Hong Kong’s Hang Seng up 2.6 percent, Japan’s Nikkei higher by 2.4 percent and China’s Shanghai Composite gaining 1.7 percent.
