Dec 19 (Lagos) - The US markets continued to rise even after the US House of Reps voted to impeach the President over what they call obstruction of justice and abuse of power.
The NASDAQ rose for 7th straight win today and hit a new all time high.
US Dollar strengthened against the Euro and Yen.
US Crude oil prices rose 0.3% to above $ 61.39 a barrel.
The Dow Jones Industrial Average is up 0.3% at the time of writing this article.
The impeachment articles have to be sent over to the senate for the trial to begin. However the leader of the house said they will only sent the articles over if all their conditions are met. That is a grey area and could delay the process indefinitely. The democrats lack majority in the senate and chances of impeachment being upheld in senate are next to zero.
Many senators called this situation as a new low in US politics as no President has even been impeached in such a short period of time and without a proper legal case in Supreme court.
The President himself held a rally in Michigan last night at the same time as he was being impeached calling it a sham process. The rally was well attended and showed the support the President has even in a historically democrat dominated state. The stage for 2020 elections is set and the markets do not seem to be worried.
New highs all around.
S&P 500 index hit new record high today.
The NASDAQ hit a new record high today.
The democratic party led House of Representatives hit a new low according to many senators who decried the impeachment process as a sham.
reporting for easykobo.com on Thursday, Dec 19 2019 from Lagos, Nigeria