NEW YORK (Pakistan Point News / Sputnik - 20th December, 2019) US stocks hit record highs on Thursday and closed higher, ignoring the impeachment of President Donald Trump by the House of Representatives.
The Dow Jones Industrial Average rose 0.5 percent to settle at 28,377, after a record high at 28,382.
The top 500 indicator for US stocks, the S&P 500, also rose 0.5 percent to settle at all-time high of 3,206.
The tech-heavy Nasdaq index gained 0.7 percent points to close at 8,887 after touching an unprecedented 8,888.
Late on Wednesday, Trump became the third president in US history to be impeached. Rival Democrats, who constitute the majority in the House of Representatives, voted in favor of two articles of impeachment charging him with abuse of power and obstruction of Congress.
Trump will have to face trial in the US Senate, but is unlikely to be removed from office as Republicans are the majority in the upper chamber of Congress. Republicans have said� the view the impeachment by Democrats as a sham.
US stocks have had one of the biggest and most prolonged bull market in years as news of runaway jobs growth and other positive economic data have been joined by those of trade deals such as the upcoming US-China Phase One trade deal and the recently-concluded US-Mexico-Canada trade agreement.
