US stocks fluctuate as investors assess outlook for stimulus and political turmoil

U.S. stocks posted a slight rise on Wednesday as investors weighed in on ongoing stimulus efforts and braced for House Democrats to act to impeach Trump for the second time.

Vice President Mike Pence has ruled out invoking the 25th Amendment to remove Trump on charges he provoked a right-wing mob to storm Capitol Hill. Pence’s decision paves the way for Democrats to move forward with Trump’s impeachment.

On the economic data front, the The US consumer price index has risen 0.4%, in line with the consensus estimate. The core CPI gauge, which excludes food and energy costs, rose 0.1% from the previous month after gaining 0.2% in November, according to a labor ministry. report. Philadelphia Fed Chairman Patrick Harker will speak on the economy at 2 p.m. today and Federal Reserve Vice Chairman Richard Clarida will speak on the monetary policy framework at 3 p.m.

Here’s where the U.S. indexes were shortly after opening at 9:30 a.m. (ET) on Wednesday:

Read more: Julian Klymochko wakes up at 4.30am to run an ETF looking to profit from the SPAC boom. The Chief Investment Officer explains how the strategy works and shares 2 new PSPCs on his radar

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Bitcoin hovers around $ 35,000, a key technical level on the charts. A a break above or below these levels could pave the way for the next explosion to record highs, or a more prolonged decline, analysts say.

“The cryptocurrency market has come under fire in recent days, with Bitcoin and Ethereum both declining as a wave of risk aversion sweeps through global finance. the steps. Although the long-term outlook for both cryptocurrencies remains skewed upward, further losses look likely in the coming days, “DailyFX strategist Daniel Moss said in a note. The dollar gained against all peers. Group of 10 currencies and yields on treasury bills fell.

Oil prices have slipped. Crude West Texas Intermediate fell 0.9% to $ 52.72 a barrel. Brent raw, the international standard for oil, fell 1.2, to $ 55.93 per barrel, to intraday lows.

Now read more market coverage from Markets Insider and Business Insider:

A leading Wall Street company asked 7 famous investors about their favorite stocks and the global deals they use to stay ahead of the competition. Here is what they are betting on now.

Billionaire investor Howard Marks discussed Tesla’s valuation, growth-to-value investing, and the Fed’s juice markets in a recent interview. Here are the 8 best quotes.

Long-term equity investors should focus on cash-rich companies willing to spend much more than stimulus recipients, says Jefferies


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