Stocks little changed as Pelosi says House will forge ahead with impeachment
Will Trump increase tariffs on China?
Hudson Institute Chinese strategy director Dr. Michael Pillsbury discusses the influential power President Trump has on China and explains why China will abide by a phase one trade deal if it’s in its interest.
Stocks opened higher Thursday despite House Speaker Nancy Pelosi saying the U.S. House of Representatives will bring articles of impeachment against President Trump.
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"The president's actions have seriously violated the Constitution," she said. "His wrongdoing strikes at the very heart of our Constitution."
All three of the major averages opened higher with the Dow Jones Industrial Average up almost 100 points, or 0.3 percent, before wiping out gains. The S&P 500 and Nasdaq Composite were higher by 0.07 percent and 0.17 percent, respectively. On Wednesday, the major indexes all snapped their three-day losing streaks amid trade talk optimism.
|I:DJI||DOW JONES AVERAGES||27589.02||-60.76||-0.22%|
|I:COMP||NASDAQ COMPOSITE INDEX||8546.39002||-20.28||-0.24%|
General Motors and South Korea's LG Chem announced Thursday they would invest $2.3 billion in an electric-vehicle battery joint venture in Ohio.
|GM||GENERAL MOTORS COMPANY||35.34||-0.08||-0.23%|
United Airlines gained after announcing CEO Oscar Munoz will move to the role of executive chairman, ceding his former job to J. Scott Kirby, the carrier's president.
Macy's shares saw little reaction to the news that Hal Lawton, president of its brand business, has resigned to take the reins at the retail farm store Tractor Supply.
|UAL||UNITED AIRLINES HLDG.||88.20||+0.03||+0.03%|
|TSCO||TRACTOR SUPPLY COMPANY||97.46||+1.74||+1.82%|
On the earnings front, Tiffany & Co. was little changed after reporting a third-quarter profit of $78 million, down 17 percent from a year ago. Revenue came in at $1.01 billion, little changed from last year.
Dollar General announced better-than-expected results and raised its full-year profit outlook, sending shares higher.
Signet Jewelers reported a smaller-than-expected loss and boosted its annual earnings and revenue guidance.
|TIF||TIFFANY & CO||133.57||-0.15||-0.11%|
|SIG||SIGNET JEWELERS LTD||17.82||+1.17||+7.01%|
West Texas Intermediate crude oil was trading up 1.1 percent ahead of OPEC's decision on production. Gold was unchanged at $1,480 an ounce.
U.S. Treasurys were under modest selling pressure, running the yield on the 10-year note up 3.8 basis points to 1.819 percent.
In Europe on Thursday, France's benchmark CAC 40 added 0.7 percent while Germany's DAX and Britain's FTSE were little changed.
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Japan's leading Nikkei gained 0.7 percent, Hong Kong's Hang Seng was up 0.6 percent, while the Shanghai Composite rose 0.7 percent.
Ken Martin and the Associated Press contributed to this article.
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