Dow Cautious After Pelosi Baits Impeachment Hook for a Reckless Trump

  • A quiet Monday for the Dow belied some risk off-moves in the index.
  • Donald Trump’s meeting with Jerome Powell went off without a hitch.
  • Nancy Pelosi’s offer for the president to testify in the impeachment hearings could create some serious volatility in the Dow Jones.

The Dow Jones clung to record levels on Monday, as China’s retort to the coverage of its incarcerated Muslim population failed to roil risk appetite.

Helping support a mixed day for Dow stocks, President Trump’s meeting with the Federal Reserve’s Jerome Powell went smoothly, though his possible testimony in the impeachment hearings threatens to inject some volatility into the stock market.

Dow Jones Steady as Trump Keeps It Friendly With Powell & Mulls Pelosi’s Offer

It was a measured performance in the three major US stock market indices to start the week. The Nasdaq, Dow Jones Industrial Average, and S&P 500 all traded within a few points of last Friday’s record close.

At last check, the Dow had crawled 21.62 points or 0.08% higher to 28,026.51. The S&P 500 rose 0.01%, while the Nasdaq climbed 0.1% to just under 8,550.

The Dow Jones clawed its way higher after Trump’s hotly-anticipated meeting with Fed Chair Jerome Powell went smoothly. Source: Yahoo Finance

Unrest in Hong Kong mixed with the trade deadlock between the US and China to help lift the gold price 0.2%, alongside the haven Japanese yen.

The British pound rose towards 1.30 as Conservative polling indicates some political stability could be possible in the United Kingdom. Ultimately, this could be good news for the Dow if Brexit reaches an acceptable resolution.

Monday also saw a surprisingly friendly Donald Trump tweeting about his “cordial” meeting with Federal Reserve Chair Jerome Powell.

Source: Twitter

Not in the mood to do any damage to the record-setting Dow Jones, the president was careful to make a rare bland statement.

Will Trump Testify in Impeachment Hearings?

In a more market-unsettling…

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