Stocks rose Thursday morning after Donald Trump became the third U.S. President to be impeached.
Though the House of Representatives voted to impeach President Donald Trump on Wednesday night, the stock market rose to new record highs in their first session after the news, boosted by trade progress and a U.S. economy that continues to hold steady.
Since House Speaker Nancy Pelosi announced the formal impeachment inquiry on September 24, the S&P 500 has risen 7.6%, while the Dow has risen by almost 5.5%.to reflect the impeachment process of Bill Clinton, when stocks consistently moved higher, as opposed to Richard Nixon’s resignation, when the market crashed into recession.experts say
Comparisons to the rally that occurred during Clinton’s impeachment suggest that stocks could outperform throughout the Trump impeachment process, as pointed out by Edward Moya, senior market analyst at Oanda. “Clinton, however, had much of his rally based on the dot-com bubble, while Trump has his based on massive stimulus from central banks globally,” he says.
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