The Dow Jones Industrial Average cruised to an all-time high during midday trading on Thursday, notching a record number only a day after President Trump was impeached by the House of Representatives. The tech-heavy Nasdaq composite followed suit, surging to its highest ever, with “panic-like buying” reported from traders.
The expected passage of the United States-Mexico-Canada trade agreement Friday, which will replace NAFTA and the International Trade Commission estimated could boost U.S. gross domestic product by $68 billion, could be behind the bullish sentiments across U.S. markets.
Thursday’s Dow was led by strong performances from Walgreens, Cisco, and Intel. Apple moved higher after news of a new partnership with Amazon and Google was announced Wednesday.
Investors appear unfazed by Trump’s impeachment, only the third in U.S. history. As Trump continues to work through a trade deal with China, markets have rallied after sustained job gains in the past several months.
Elon Musk’s Tesla, which struggled over the past year, hit a record $406 per share — only $14 dollars short of his tweeted 2018 promise to take the company private at $420 that landed him in hot water with the SEC.
The strong performance of U.S. markets has often been featured by Trump on the campaign trail.
