Wall Street gains steadily while impeachment hearings get underway

wall street gains steadily while impeachment hearings get underway

4 Min Read

(Reuters) – Wall Street’s three major indexes were advancing slightly after Wednesday’s choppy morning session as investors appeared to be taking a wait-and-see approach while Congress began impeachment hearings.

FILE PHOTO: The boot on the statue of George Washington, the first president of the United States, is seen across from the New York Stock Exchange (NYSE) following Election Day in Manhattan, New York City, U.S., November 4, 2020. REUTERS/Andrew Kelly/File Photo/File Photo

Intel Corp was the S&P’s biggest percentage gainer, up more than 7%, after the chipmaker announced the replacement of its Chief Executive Officer Bob Swan with VMware Inc CEO Pat Gelsinger next month.

The S&P added to gains later in the afternoon right after the Federal Reserve released its “Beige Book” report. It, however, showed U.S. economic activity increasing modestly in recent weeks as employment dropped in a growing number of Fed districts due to a surge in coronavirus infections.

Wall Street’s main indexes had hit record highs last week on expectations for a hefty COVID-19 relief package even as an attack on Capitol Hill ramped up political uncertainty.

As U.S. House of Representatives gathered to consider a second impeachment for President Donald Trump after the Capitol invasion by his …

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