US stock exchanges traded low yesterday as US President Donald Trump faces impeachment challenges.
The S&P 500 lost as much as 1.1% this week after news said of an impeachment inquiry by Democrats. A day after that, equities recovered after Trump indicated that a trade deal could arrive sooner than what everyone expects.
For specific stocks, AMD, Nvidia, and Micron Technology rose between 0.2% and 0.7%. Micron also released its quarterly results.
Beyond Meat soared 15.8% after news that said it added McDonald’s Corp to its client list.
Facebook Inc lost 1.0%, on the other hand, on news that the Justice Department will conduct an antitrust investigation.
Accenture dropped 1.3% after its earnings guidance missed the expectations of analysts. Meanwhile, Carnival Corp shed 2.9% before it released its earnings report.
The Dow gained 49 points, or 0.18%, while the NASDAQ 100 rose around 3.75 points or 0.05%.
Trump Faces Inquiry
This week has been a rollercoaster ride for stock exchanges. After Boris Johnson, another leader of a powerful country awaits ruling on their conduct.
A top intelligence official will be facing US lawmakers over the government’s handling of a whistleblower report. The report is a crucial piece of information to the impeachment inquiry against Trump.
Joseph Maguire, the acting director of the national intel, will testify to the House of Representatives Intelligence Committee.
The complaint is about a telephone call on July 25. According to the complaint, Trump pleasured Ukrainian President Volodymyr Zelenskiy to investigate Joe Biden.
Biden is a Democrat and a presidential front-runner.
The report prompted the Democrats to launch a formal impeachment inquiry into the POTUS. The complaint accuses Trump of asking foreign help to smear Biden.
The call took place after Trump froze nearly $400 million in American aid to Ukraine.
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