“Stocks set closing and intraday records Thursday even after the House of Representatives voted to impeach President Donald Trump,” Joseph Woelfel for TheStreet:
The Dow Jones Industrial Average finished up 137 points, or 0.49%, to 28,376.82, the S&P 500 climbed 0.44% to 3,205.34, and the Nasdaq rose 0.67% to 8,887.22. The Nasdaq has risen for seven straight sessions.
The impeachment process has had little effect on Wall Street since it’s widely expected the Senate won’t vote to remove Trump from office.
“The impeachment and trial of President Trump has nothing to do with the price to earnings ratio of Bristol-Myers or any other stock for that matter,” Jim Cramer writes for TheStreet’s Real Money:
I know many of you are probably astonished at what you may think is the cavalier way the averages plow higher despite the horrific headlines and a level of discord and rancor seemingly rivaled only by the lead up to the Civil War, or the War Between the States, depending upon your geographic orientation back then.
So why doesn’t it matter more?
One thing that I find quite helpful in explaining why we could have such a strong rally right into the proceedings is that president will most likely be found innocent in the Senate… But when you compare this to the Clinton debacle this seems tame when it comes to drama, lame when it comes to outcome. The crimes Clinton was charged with were obvious and criminal… 31 House Democrats voted with the Republican majority to impeach… That’s why I believe the averages did get hit during the trial of a popular president who presided over an economic boom.
So forgive me if I emphasize it again, but the impeachment and trial of President Trump has nothing to do with the price to earnings ratio of Bristol-Myers or any other stock for that matter.
MacDailyNews Take: Wall Street does seem utterly unaffected by all of the Sturm und Drang emanating from Washington D.C. Shares of Apple today closed up $0.28 (+0.10%) at $280.02 after yesterday setting a new all-time intraday high of $281.90.
[Thanks to MacDailyNews Readers too numerous to mention for the heads up.]
…or just laugh.
I believe if he’s tried in the Senate he will be found not guilty rather than innocent. I’m sure the Prez would be offended if anyone thought he was innocent! Of anything! Ever!
Not guilty is not guilty as gaveled by the court. Innocent after a verdict is semantic opinion…
Not a surprise this has been going on since the 2016 election.
Certainly, it all makes perfect sense. President Donald J. Trump is a MASTER of turning coal into diamonds.
As reported earlier this afternoon:
The National Bureau of Economic Research found, as of December, the economy has expanded for a record 126 consecutive months, CNBC reported.
“It is unusual that this has been such a persistent recovery,” Michelle Meyer, chief U.S. economist at Bank of America Merrill Lynch, told CNBC.
Breathlessly awaiting TxUSER tedious deflection DENIALS while he is on record not acknowledging ONE positive accomplishment under the president. Yeah, right. Get a grip RINO Republican.
Bottom line: This is great news for EVERYONE. WooHoo!… 👍🏻🇺🇸👍🏻🇺🇸👍🏻
GoeB, Trump committed a tangible wrong and essentially admitted it with others verifying it. He has denied the availability of his staff who would have further damning testimony if allowed. Does this sound like the actions of an innocent man? The mean-spiritedness, rudeness and uncouth nature of this man knows no bounds, How can you be proud of him as an American?
Who knows what he’s capable of and or will do if reelected if present trends and his poor behavior continue? He shows no sign of learning important lessons. He does not understand the limits of his Presidency. But Trump was never presidential material. Much too ignorant and uneducated for the job. I say this as a Centrist and not a Democrat. I find it hard to believe people find it so easy to excuse his abuses, balderdash and vicious slandering.
Oh and no President gets all the credit for the economy. The economy was great under Bill Clinton too but he had nothing to do with that either. (Another President I was equally mad as hell about.)
Remember when Eric Holder refused to testify in the Operation Fast and Furious gun running investigation? Remember when the Obama administration lied to the American public (Afghanistan), spied on reporters, prosecuted whistleblowers, gave billions of $ to a terrorist nation (Iran), all the times the Supreme Court ruled against the his administration? The “constitutional law professor” only won 45% of his cases (W Bush 60%, Clinton 63%, HW Bush 70%, and Reagan 75%)
Hey, but he was likable and well mannered, so it was all cool.
Awesome…👍🏻
“GoeB, Trump committed a tangible wrong and essentially admitted it with others verifying it.”
Good to hear from you Peter, awesome new Mac Pro. Now back to your post.
But what “wrong” are referring to?
“He has denied the availability of his staff who would have further damning testimony if allowed.”
Certainly no one including myself knows if it would be “damning” or supportive. That’s Democrat media spin and it is nothing more than a partisan purposeful guess.
I would certainly DENY the availability of presidential staff for several reasons. The Democrats running the Schiff Show, turned into the Sham Show, denied Republicans due process and did not allow one witness the Republicans requested. How fair is that?Clear violation of past impeachments and rewriting the rules as it suits Democrat needs.
Democrats met in secret several times and the most egregious maneuver the whistleblower right now is nothing more than a PHANTOM that may or may not exist. Seriously, think about that, Peter.
The win at all costs Democrats tell us the whistleblower exists but they have yet to produce him even in secret confidential closed door hearings the Republicans requested.
Now I know the Democrats and the sycophant biased media tells us he or she exists, but without offering a shred of EVIDENCE. What they offer is a pious proclamation as a career servant of the Constitution caring for country the whistleblower is in jeopardy and needs protection. Yeah, right.
Now for a radical thought, Peter. What if the whistleblower is yet another rouge agent of the FBI ilk like Peter Strzok and Lisa Page insurance policy? Full disclosure I don’t know and simply offering alternative thoughts.
Bottom line: If the whistleblower does exist, I believe the president has a right to face his accuser and not be impeached by a PHANTOM hiding behind the Democrat Media curtain.
“The mean-spiritedness, rudeness and uncouth nature of this man knows no bounds”
I think you have it backwards the “mean-spiritedness” began 19 minutes after the president was sworn in when the Washington Post website headline proclaimed the impeachment of President Trump has begun. Did you miss that, Peter?
“How can you be proud of him as an American?”
Certainly, I am not proud of some of the ridiculous and cringing rough around the edges things he says, but I look past it as a remarkable HISTORIC first time politician that day to day is delivering remarkable results and keeping his campaign promises, imagine that. I am damn proud that he cares about EVERYONE while Making America Great Again!
“Who knows what he’s capable of and or will do if reelected if present trends and his poor behavior continue?”
“Poor behavior” aside, what you and the Democrat Party are seriously missing, just imagine the greater good the president would accomplish if the Democrats in Congress would simply work with the man. The Democrats have been working 100% against the president even before the election when the Intel deep state was sying on his campaign. Is that OK with you, Peter? Regardless, reckoning is coming and heads are going to roll in 2020.
“But Trump was never presidential material. Much too ignorant and uneducated for the job.”
Are you saying Trump’s resume is forget the people who elected him and only care about the swamp lobbyists? Hope not. On the other hand, yes he is Washington “uneducated for the job.” President Trump tweets plays the Democrats and media like a Stradivarius in nanoseconds on a daily basis. In a word, President Trump is brilliant. 👍🏻
Regarding your comment President Trump is “ignorant” in what way, Peter? The guy has been elected president against the media and DNC juggernaut tide of Clinton spending record billions amounts of money in a presidential election and editorial endorsements over 90% of American newspapers. Certainly, he is not “ignorant” and doing something right.
Peter, I am a lifelong registered independent, same as you if I interpret your post correctly.
“The economy was great under Bill Clinton too but he had nothing to do with that either.”
So, are you saying Peter, ALL presidents have absolutely nothing to do with the economy?
Philosophically speaking, in life we all have our circle of influence, and we all have an outside circle we cannot influence.
Whether President Trump ranging opinions has anything or nothing to do with a RECORD ECONOMY, it is REAL! The bigger issue is I totally CONDEMN the ignorance of the mainstream media not publishing RECORD economic numbers on the front page and in their bias hiding what is actually going on in the USA. Big Media, check your circulation numbers.
Imagine Peter, if this happened to the economy under President Obama? The media adoration coverage would be wall to wall off the charts! Biased media, nuff said.
Trump should be winning a Pulitzer for a FIRST TIME politician economic records under his administration for RESULTS lifting millions out of poverty and record employment numbers for minorities. Then again, the Pulitzer Prize is Democrat dominated meaning BIASED.
Anyway my friend, although we respectfully disagree, Merry Christmas and Happy New Year!…🤠
When I was a prosecutor, we regularly prosecuted criminals in cases that were initiated by a CrimeStoppers tip or a 911 call. The “whistleblower” never ever testified before the Grand Jury or at trial because there was better, more direct evidence collected in the course of the subsequent investigation.
The qualifications and motives of the tipster became completely irrelevant as soon as the elements of the offense were established by independent evidence. The burden placed on the government is to prove that the defendant is guilty, not that the initial complainant is innocent. People often file charges out of mixed motives, but that has no.bearinng one way or the other as to whether the defendant is guilty.
I don’t believe for a nanosecond you were a prosecutor same as I don’t believe for a nanosecond you are a conservative Republican. I do believe you are a dishonest congenital LIAR of the Clinton ilk…
If you don’t believe that I was a prosecutor, fine. I don’t believe that you are a conservative (real conservatives do not support the notion that any government official is above the law).
For a real conservative’s response to the current situation, see the following article in National Review, the gold-standard publication for the American conservative movement since the 1950s:
https://www.nationalreview.com/magazine/2019/12/31/four-tests-for-impeachment/#slide-1
Moreover, I would suggest that you talk to someone whom you DO believe is a lawyer (in a US state, not the former Soviet Union). They will tell you that calling the initial complainant to testify in a criminal trial is rare unless the complainant is the victim, and it simply never happens if the complainant based their initial accusation on second-hand information that has been subsequently verified by sworn witnesses with personal knowledge. To claim that the testimony of a whistle-blower is essential to proving guilt is just not true.
To repeat yet again: You are entitled to your own opinions. That right is not dependent on whether I hold the same opinion. Opine away!
You are not entitled to your own facts. When you make stuff up, I will continue to call you on it.
@ USER
“I don’t believe that you are a conservative (real conservatives do not support the notion that any government official is above the law).”
Do you know how to read? I never said I was a “conservative” I said multiple times I am a lifelong registered INDEPENDENT!
You want to talk about government officials above the law, fine, let’s party.
Do you support Hillary Clinton’s illegal e-mail server and her mishandling of classified documents that showed up on Wiener’s computer, bleach bit computers and smashing cell phones with hammers as repeatedly reported on cable news?
This is going to be interesting— I’m waiting.
“You are not entitled to your own facts. When you make stuff up, I will continue to call you on it.”
Right back at you. When you continue to LIE about being a caring conservative Republican, that you are anything but, “I will continue to call you on it.”
All your supporting cast buddies around here are far left. Gee, do they pick up the obvious like I do? I can at least give them credit for being honest about where they stand and who they are. Can’t say the same for you…
As I wrote the other day, TxUSER — “You want to talk about government officials above the law, fine, let’s party.
Do you support Hillary Clinton’s illegal e-mail server and her mishandling of classified documents that showed up on Wiener’s computer, bleach bit computers and smashing cell phones with hammers as repeatedly reported on cable news?”
I suspect you will once again NOT RESPOND. It is laughable, despicable and sad at the same time you profess to claim the moral high ground but it is all a FAKE dishonest partisan ruse…
Why should I reply on a thread that nobody is reading except one person who disbelieves everything I say?
@USER
“Why should I reply.”
Why not? You and I are reading and posting.
So, for the third time since you are so concerned about politicians being above the law, “Do you support Hillary Clinton’s illegal e-mail server and her mishandling of classified documents that showed up on Wiener’s computer, bleach bit computers and smashing cell phones with hammers as repeatedly reported on cable news?”
If you dodge or not answer AGAIN you will PROVE to the MDN community you are a FAKE CONSERVATIVE and a LIAR…
For God’s sake, man, learn to read!
I did not say I supported Hilary breaking the law. I quite specifically said that I do NOT support any crimes that she might have committed. What more do you want me to say?
The issue is not whether I support lawbreaking. It is whether I regard accusations “repeatedly reported on cable news” without supporting evidence as adequate proof that some specific criminal statute has been violated. No, I do not, and no reasonable person, particularly no reasonable lawyer, and most particularly no reasonable prosecutor would.
You seem to think that prosecutors base their decisions on whether to deprive a fellow citizen of her liberty on what has been reported as a conclusion without specific evidence on cable news, or on how many yahoos a demagogue can get to chant “Lock her up.”
That is, without a doubt, the most dangerously anti-American notion I have encountered yet this year. 366 days from now, it may still qualify for that dubious honor.
No, I do not support that, the murder on the Orient Express, or any other fictional crime, no matter how widely reported. It is laughable for someone who thinks that all news is fake to cite “repeatedly reported on cable news” as if that were a guarantee of factual accuracy.
It was repeatedly reported that Your Guy sexually assaulted at least twenty women after boasting on tape that he grabs women by the genitals, but you would never provide a defense of that conduct… because you don’t believe it happened. Similarly, I am not going to defend conduct that I believe you are mischaracterizing.
Happy New Year.
“No, I do not support that, the murder on the Orient Express, or any other fictional crime, no matter how widely reported.”
Not a surprise you support Hillary Clinton breaking the law, FAKE prosecutor…
See answer erroneously posted just above.
The impeachment, just as the Russian collision BS, is nothing but a scam to fool the gullible and the stupid. It worked great on the libturds
It is nothing more than election tampering because Dems know that can not win elections without cheating
They should all be hung for treason.
Stupid Dems aren’t smart enough to realize that they just guaranteed a Trump re-election with their scams
Americans have grown tired of their bullshit and Trump will win in another landslide. Thanks libturds!