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Stock Market News: September 25, 2019



U.S. stocks fell on Wednesday, with political uncertainty weighing on risky assets.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Meanwhile, the earnings in Nike shares ([19459004)NKE) after & nbsp; better-than-expected quarterly results & nbsp; helped offset some of the dow's downturn. "Data-reactid =" 16 "> Meanwhile, Nike share gains (NKE) after better than expected quarterly results helped offset some of the downturns in the Dow.

Here are the main market movements from 10: 03:00 ET:

  • S&P 500 (^ GSPC): -0.35%, or 10.53 points

  • Dow (^ DJI): + 0.01%, or 2.78 points [19659005] Nasdaq (^ IXIC): -0.47%, or 22.17 points

  • United States Crude oil prices (CL = F): -2.67% to $ 55.76 a barrel

  • 10-year yield checkout (^ TNX): +1.9 bps to 1.665%

  • Gold (GC = F): -0.27% to $ 1536.00 an ounce

<p class = "canvas-atom canvas- text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Tuesday After Market Hours, & nbsp; Cabinet Chairman Nancy Pelosi officially announced & nbsp; President Donald Trump's impeachment investigation, prompted o from a report that Trump is pushing for President of Ukraine Vladimir Zelensky to investigate potential presidential contender in 2020 Joe Biden and his son. "data-reactid =" 25 "> Tuesday after market hours, President of The Nancy Pelosi House has officially announced an investigation into President Donald Trump's impeachment. The investigation was prompted by a report that Trump is pressuring Ukrainian President Vladimir Zelensky to investigate a potential 2020 presidential opponent, Joe Biden and his son.

Meanwhile, Trump also confirmed on Tuesday that he was refusing military assistance from Ukraine, but said that was so in his view that the US was contributing more to the country than other European nations.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – -sm" type = "text" content = "Trump has said he has allowed the release of a full, unedited transcript of his call with Zelensky, released by the White House & nbsp; on Wednesday morning and the signer may testify before Congress immediately this week, according to a & nbsp; Twitter post House Intelligence Committee Chairman Adam Schiff & nbsp; Tuesday. "data-reactid =" 27 "> Trump said he has authorized the release of the full, unreacted transcript of his conversation with Zelensky, which the White House released on Wednesday p Trina. The signalman can testify to Congress as soon as this week, according to a Twitter post by House Intelligence Committee Chairman Adam Schiff on Tuesday.

"Unique context"

The passage of a formal impeachment inquiry has added additional uncertainty to the markets, contributing to the steepest loss of the S&P 500 since August on Tuesday.

Most, however, state that the impeachment process may take months and that the likelihood that it will pass into the Senate of the Republican majority remains doubtful.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" No change in general investment recommendations that are only moderately cyclical given previous geopolitical and now political constraints on the business cycle and profit, ”JPMorgan analyst John Normand & nbsp; . "data-reactid =" 31 ">" No change in total investment Recommendations taken that are only moderately cyclical given previous geopolitical and now political constraints on the business cycle and profit, "JPMorgan analyst John Normand wrote in a note.

Traders work before the closing bell of the New York Stock Exchange York (NYSE). Photo by Johannes Eisel / AFP) (Photo credit must be read by JOHANNES EISELE / AFP / Getty Images)

But nevertheless, the impeachment investigation is also happening in a "unique context" in global markets, which "now includes four elements – slowing global growth, classically vulnerable vulnerable groups, high market valuations, but somewhat defensive investor positioning," Normand added.

"It would be complacent to believe that the impeachment process simply adds another ring to the circus and will be insignificant to the markets in 2020," he said. He highlighted the "wildcards" that emerged from the investigation, including additional uncertainty over US-Iran trade and US-Iran relations, and the 2020 presidential and senate elections.

History gives little indication for the direction of the stock market against the backdrop of a presidential impeachment investigation. The two previous cases – during the Nixon and Clinton administrations – gave two different results.

"During the Nixon saga, stocks had already decayed (of course, we were in recession) and continued to fall after the formal investigation process began," Neil Duta, head of Renaissance Macroeconomics, wrote in an email . "During the Clinton impeachment, markets exploded as the economy boomed. Maybe these political events are at the root of the basics? "

<p class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Emily McCormick is a Yahoo Finance reporter. Follow her on Twitter: @emily_mcck "data -reactid =" 61 "> Emily McCormick is a Yahoo Finance reporter. Follow her on Twitter: @emily_mcck

< p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read more by Emily: " data -reactid = "62"> Read more from Emily:

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Follow Yahoo Finance on Twitter Facebook Instagram Flipboard LinkedIn and reddit . "data-reactid =" 69 "> Follow Yahoo Finance on Twitter Facebook Instagram Flipboard LinkedIn and [19659043] reddit .

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "[19659047] Read lat latest stock market news from Yahoo Finance "data-reactid =" 70 "> Read the latest stock market news and markets from Yahoo Finance


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