Day Traders Diary
The major averages rose to all-time highs on Thursday as investors looked past the news of President Donald Trump's impeachment by the House as well as mixed U.S. economic data.
The S&P 500 advanced 0.5% to 3,205 marking its first close above 3,200. The Dow Jones Industrial Average climbed 137 points, or 0.5% to 28,376. The Nasdaq Composite gained 0.7% to end the day at 8,887.
Cisco Systems and 3M were the best-performing Dow components, rising more than 1.5% each. The real estate and consumer staples sectors led the S&P 500 higher, gaining 1.1% and 0.8%, respectively. Micron Technology shares also contributed to Thursday's move higher. Conagra shares surged more than 15% and posted their biggest one-day gain since Nov. 5, 1984.
The S&P 500 is up nearly 7% since House Speaker Nancy Pelosi launched a formal impeachment inquiry in September. During Clinton's impeachment process, the broad index surged more than 26%.
In corporate deals, Match Group rose 8.6% and InterActiveCorp rose 7.8% after agreeing to separate.
U.S. Treasuries edged higher, pushing yields slightly lower across the curve. The 2-yr and 10-yr yields both declined two basis points each to 1.60% and 1.91%, respectively. The U.S. Dollar Index finished little changed at 97.39. WTI crude rose 0.6% (+0.37%) to $61.30/bbl.All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.